Orissa Minerals Development hits near 4-yr high on resumption of mining ops

The Orissa Minerals Development

12/08/2020 07:53

** Shares of mine operator  ORIS.NS  rise as much as 20% and
hit upper circuit at 2690.55 rupees, their highest since Nov. 2,
2016
    ** The Kolkata-based company on Tuesday said India's top
court passed an order that ORIS is permitted to resume mining
ops after making necessary payments to Odisha's government
 urn:newsml:reuters.com:*:nFWN2FD11V
    ** In February last year, ORIS proposed a 4 bln rupees
($56.19 mln) payment to the govt as penalty for violations under
various clearances 
    ** ORIS shares up 75% this year, as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))