Sarda Energy & Minerals rose 3.59% to Rs 409.85 after the company received environmental clearance from the Chhattisgarh Government to operate the enhanced capacity of iron ore pellet plant.
In a filing issued during market hours today, the company said that the Chhattisgarh Environment Conservation Board, Raipur had granted the company 'consent to operate' the enhanced capacity of its iron ore pellet plant from existing 6,00,000 million tons per annum (MTPA) to 8,00,000 MTPA, with immediate effect.Sarda Energy & Minerals is a vertically integrated producer of steel with captive iron ore. The company is manufacturer and exporter of niche grade manganese based ferro alloys.
The company's consolidated net profit surged 173.56% to Rs 115.58 crore in Q3 FY21 from Rs 42.25 crore in Q3 FY20. Net sales during the quarter increased by 33.28% YoY to Rs 599.49 crore.
In the past one year, the stock has zoomed 228.08% while the benchmark Sensex has added 61.19% during the same period.
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