Prakash Industries is currently trading at its upper circuit limit of Rs. 184.20, up by 8.75 points or 4.99% from its previous closing of Rs. 175.45 on the BSE.
The scrip opened at Rs. 180.00 and has touched a high and low of Rs. 184.20 and Rs. 179.00 respectively. So far 141416 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 202.65 on 17-Oct-2023 and a 52 week low of Rs. 48.82 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 184.20 and Rs. 165.15 respectively. The current market cap of the company is Rs. 3295.11 crore.
The promoters holding in the company stood at 44.24%, while Institutions and Non-Institutions held 6.36% and 49.40% respectively.
Prakash Industries has made payment of Rs 23.25 crore to the Forest Department, Distt. Surajpur, Chhattisgarh, towards Net Present Value (NPV) of diverted forest land to be used for its Bhaskarpara Commercial Coal Mine in Chhattisgarh.
Earlier, the company had made payment of Rs 35.12 crore on December 26, 2023, to the Office of Collector, Janjgir-Champa, Chhattisgarh, towards premium of land to be transferred to Forest Department for Compensatory Afforestation in lieu of forest land with respect to Bhaskarpara Commercial Coal Mine in Chhattisgarh.
Further, the In-principle Stage-I approval under the Forest (Conservation) Act, 1980 and Environmental Clearance (EC) for the said mine is already in place. The development of the said mine is progressing fast and the Mining lease is likely to be executed in this quarter.
Prakash Industries is rapidly carving its niche in the Indian steel industry, and has emerged as one of the key producers of value added steel products in the country.
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