India's Prakash Industries hits 5-yr high on environmental clearance for coal mine

Prakash Industries

20/09/2023 05:23

** Shares of steel products manufacturer and power
generation co Prakash Industries  PRKI.NS  rise as much as 8.7%
to 142.7 rupees, highest since Aug. 7, 2018
    ** Co on Monday said Ministry of Environment, Forest and
Climate Change granted Environmental Clearance (EC) for co's
commercial coal mine in Chhattisgarh
    ** Adds mining lease for coal mine likely to be executed by
next quarter
    ** Nearly 15.9 mln shares change hands as of 9:45 a.m. IST,
0.8x the 30-day moving average
    ** Stock last up 5.9%, climbing 2.5x YTD
    

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))