The Expert Appraisal Committee (EAC) has given an Environmental Clearance (EC) for setting up plants within the existing premises of blast furnace unit in Mangalore, Karnataka.
The Expert Appraisal Committee (EAC) has accorded an Environmental Clearance (EC) for setting up Non-Recovery Coke Oven plant (0.18 million tonnes per annum) with Cogen Captive Power plant (10 mega watt) and Ductile Iron Spun pipe (DISP) (0.2 MTPA) within the existing premises of blast furnace unit at Mangalore, Karnataka. The announcement was made during market hours today, 28 February 2020.
On a standalone basis, KIOCL reported a net loss of Rs 3.66 crore in Q3 December 2019 as compared to a net profit of Rs 21.15 crore in Q3 December 2018. Net sales rose 12.4% to Rs 477.17 crore in Q3 December 2019 over Q3 December 2018.
Shares of KIOCL tumbled 8.76% to Rs 94.75. On BSE, the stock was trading in the range of Rs 93.15 to Rs 98.50 so far.
State-run KIOCL primarily produces iron-ore pellets. As of 31 December 2019, the Government of India held 99.06% stake in the firm.
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