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KIOCL surges on getting environmental clearance for Devadari Iron Ore Mine

KIOCL surges on getting environmental clearance for Devadari Iron Ore Mine

KIOCL is currently trading at Rs. 270.50, up by 6.45 points or 2.44% from its previous closing of Rs. 264.05 on the BSE.

The scrip opened at Rs. 269.95 and has touched a high and low of Rs. 275.40 and Rs. 268.00 respectively. So far 6591 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 314.00 on 09-Aug-2021 and a 52 week low of Rs. 107.50 on 29-Oct-2020.

Last one week high and low of the scrip stood at Rs. 279.60 and Rs. 260.90 respectively. The current market cap of the company is Rs. 16047.67 crore.

The promoters holding in the company stood at 99.03%, while Institutions and Non-Institutions held 0.14% and 0.82% respectively.

KIOCL has received Environmental Clearance from the Ministry of Environment, Forest and Climate Change (Impact Assessment Division) (MOEF&CC), Government of India for Devadari Iron Ore Mine with a mine capacity of 2 MTPA Iron Ore (ROM) and 500 TPA Manganese Ore with 2 MTPA wet Beneficiation Plant for 401.5761 ha (388.00 ha for mining + 13,5761 ha. for conveyor, approach road etc.) out of 485.7725 ha project area (470.40 ha mine lease area + 15.3725 ha conveyor, approach Road etc.) located in Devadari Hill Range.

KIOCL is engaged in the business of manufacturing and exporting high quality Iron Oxide Pellets and supply of pig iron for domestic market. The company also in the business segment of Pellets, Pig Iron.

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