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Prakash Industries trades in green on BSE

Prakash Industries is currently trading at Rs. 66.15, up by 3.00 points or 4.75% from its previous closing of Rs. 63.15 on the BSE.

The scrip opened at Rs. 67.90 and has touched a high and low of Rs. 68.90 and Rs. 65.50 respectively. So far 494130 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 68.90 on 12-Jan-2017 and a 52 week low of Rs. 23.05 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 68.90 and Rs. 49.05 respectively. The current market cap of the company is Rs. 895.65 crore.

The promoters holding in the company stood at 46.11%, while Institutions and Non-Institutions held 3.97% and 49.92% respectively.

The state government of Odisha has executed and registered a mining lease of Iron & Manganese Ore in favour of Prakash Industries in Keonjhar District of the state, for a period of 50 years.

As per the mining plan the Geological Reserve are around 9.9 million tonnes. The mine is expected to be developed in the next 6 months and thereafter Iron Ore production from the mine would be utilized for captive purpose. With this captive sourcing, the operating margin and profitability of the company would improve significantly.

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

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