Prism Cement rallies on winning bid from Coal India arm
The scrip was trading 5.51 per cent higher at Rs 100.60. Shares of the company opened at Rs 100.70 and touched a high and low of Rs 103.50 and Rs 100.20, respectively.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Prism Cement gained as much as 8.54 per cent in early trade on Wednesday after the company informed bourses that it has secured supply of 18,300 tonnes per annum of coal from state-owned CIL arm Southern Eastern Coalfields.
The scrip was trading 5.51 per cent higher at Rs 100.60. Shares of the company opened at Rs 100.70 and touched a high and low of Rs 103.50 and Rs 100.20, respectively.
"The company has successfully bid for 18,300 tonnes per annum of coal from Southern Eastern Coalfields in a recently held auction of coal linkages for the cement industry," the company informed BSE.
The company has secured part fuel requirement for the next five years.
This along with the earlier coal linkage project of 1,20,000 tonnes per annum, constitutes about 25 per cent of the company's annual fuel requirement.
The scrip was trading 5.51 per cent higher at Rs 100.60. Shares of the company opened at Rs 100.70 and touched a high and low of Rs 103.50 and Rs 100.20, respectively.
"The company has successfully bid for 18,300 tonnes per annum of coal from Southern Eastern Coalfields in a recently held auction of coal linkages for the cement industry," the company informed BSE.
The company has secured part fuel requirement for the next five years.
This along with the earlier coal linkage project of 1,20,000 tonnes per annum, constitutes about 25 per cent of the company's annual fuel requirement.
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