Sandur Manganese trades higher on getting consent for expansion to increase iron ore production
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Sandur Manganese & Iron Ores is currently trading at Rs. 1636.55, up by 32.60 points or 2.03% from its previous closing of Rs. 1603.95 on the BSE.
The scrip opened at Rs. 1642.00 and has touched a high and low of Rs. 1675.00 and Rs. 1611.15 respectively. So far 63015 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1675.00 on 06-Sep-2023 and a 52 week low of Rs. 655.00 on 31-Oct-2022.
Last one week high and low of the scrip stood at Rs. 1675.00 and Rs. 1301.10 respectively. The current market cap of the company is Rs. 4427.20 crore.
The promoters holding in the company stood at 74.30%, while Institutions and Non-Institutions held 1.05% and 24.64% respectively.
Sandur Manganese & Iron Ores has received Consent for Expansion (CFE) from Karnataka State Pollution Control Board (KSPCB), Bengaluru to increase Iron Ore production from 1.60 Million Tonnes Per Annum (MTPA) to 4.50 MTPA along with proposed 7.0 MTPA Beneficiation Plant and a Downhill Conveyor System. The Company will now obtain Consent for Operation (CFO) from KSPCB and then Maximum Permissible Annual Production (MPAP) from monitoring committee to operate at the enhanced level.
Sandur Manganese & Iron Ores is engaged in mining of finest low grade, low phosphorous, manganese and iron ores, facility for production of ferroalloys and management of hydro-electric power generation.
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