Due to the support of its new commercial mine at Bhaskarpara, the company that specialises in coal, steel, production, and supply chain in particular in Chhattisgarh has risen 5%. Its stock rose 6.34% last week, and 53.56% last month.
The new Stage-1 commercial project is currently waiting for the approval of many of India’s environmental bodies. India’s Ministry of Environment, Forest and Climate Change have recently approved the project through the Forest (Conservation) Act, 1980. The company was also granted an Environmental Clearance by the Government of India.
According to a Prakash Industries representative, the coal supplies from the new mine will provide stability to the company’s integrated steel operations as well as significant cost reductions.
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