Prakash Industries rose 2.68% to Rs 69.05 after the company said it was declared as successful bidder for Bhaskarpara Coal Mine in the 12th tranche of auction of coal mines.
Bhaskarpara Coal Mine is in Tehsil Bhiyathan, District Surguja, Chhattisgarh, India.
The announcement was made on Thursday (9 September 2021). The domestic equity markets were shut on Friday (10 September 2021) on account of Ganesh Chaturthi.
Prakash Industries is engaged primarily in the business of manufacture and sale of steel products and generation of Power. The company has its manufacturing facilities in India and sells products in India.
The company's net profit surged to Rs 40.75 crore in Q1 FY22 from Rs 3.19 crore in Q1 FY21. Net sales rose 94.84% to Rs 1,030.72 crore in the quarter ended June 2021 as against Rs 529.02 crore during the previous quarter ended June 2020.
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