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Prakash Industries zooms on emerging as highest bidder for Bhaskarpara Coal Mine

Prakash Industries Ltd. | Steel & Iron Products | Metals & Mining | BSE: 506022 | NSE: PRAKASH

07 Nov 2019 Evaluate

Prakash Industries is currently trading at Rs. 53.40, up by 2.15 points or 4.20% from its previous closing of Rs. 51.25 on the BSE.

The scrip opened at Rs. 54.00 and has touched a high and low of Rs. 54.00 and Rs. 51.90 respectively. So far 15044 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.99 on 12-Nov-2018 and a 52 week low of Rs. 31.20 on 22-Aug-2019.

Last one week high and low of the scrip stood at Rs. 58.30 and Rs. 51.00 respectively. The current market cap of the company is Rs. 924.82 crore.

The promoters holding in the company stood at 42.10%, while Institutions and Non-Institutions held 3.50% and 54.40% respectively.

Prakash Industries has emerged as the highest bidder for the Bhaskarpara Coal Mine in Chhattisgarh. The company has participated in the 8th tranche of Coal Blocks auction, conducted by Ministry of Coal.

The mine has an extractable reserve of 24.06 Million tonnes and its coal is highly suitable for use in company’s Integrated Steel plant at Champa (Chhattisgarh). Presently, the company is buying coal through the linkages allotted by Coal India and also through imports. It is expected that the vesting order for the mine by the Nominated Authority of Ministry of Coal may be issued to the company in the due course of time. Availability of coal from the Bhaskarpara Coal Mine will substantially enhance the operating margins of the company.

Prakash Industries is an integrated steel and power company. Its products include coal mines, iron ore mines, sponge iron, and power, steel melting shop and ferro alloys.

Prakash Inds. Share Price

143.95 3.10 (2.20%)

17-Apr-2026 16:59 View Price Chart

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Prakash Industries zooms on emerging as highest bidder for Bhaskarpara Coal Mine

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