MOIL surges after Madhya Pradesh govt grants mining lease

The Madhya Pradesh has granted mining lease under Ukwa Mine of the company

Shares of MOIL were up over 5% at Rs 218 on the Bombay Stock Exchange after the company in a release said that the Madhya Pradesh government has granted mining lease spread across 48.974 hectare in village Lugma, Tehsil Paraswada of Balaghat District in the state of Madhya Pradesh in favour of the company.

The aforesaid area for which the mining lease has been granted fall under Ukwa Mine of the company, the release added.

The stock opened at Rs 210 and touched a high of Rs 221. At 12:20pm, over 372,000 shares were traded on both the stock exchanges.