Sandur Manganese & Iron Ores jumps on getting nod for enhancement of PAP limit of iron ore
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Sandur Manganese & Iron Ores is currently trading at Rs. 427.20, up by 7.95 points or 1.90% from its previous closing of Rs. 419.25 on the BSE.
The scrip opened at Rs. 431.85 and has touched a high and low of Rs. 441.40 and Rs. 426.00 respectively. So far 29221 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 636.15 on 20-Jun-2024 and a 52 week low of Rs. 330.60 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 441.40 and Rs. 396.95 respectively. The current market cap of the company is Rs. 6951.30 crore.
The promoters holding in the company stood at 74.22%, while Institutions and Non-Institutions held 2.45% and 23.32% respectively.
Sandur Manganese & Iron Ores has received approval for enhancement of Permissible Annual Production (PAP) limit of iron ore from the present 3.81 million tonnes per annum (MTPA) to 4.36 MTPA in Mining Lease from Central Empowered Committee.
The Company will now obtain Consent for Operation (Expansion) from Karnataka State Pollution Control Board and other regulatory approvals to operate at enhanced levels.
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.
