 "Prism Cement surges on securing fuel supplies")
Prism Cement has soared 18% to Rs 117 on the BSE after the company announced that it has successfully bid for 120,000 tonnes per annum of coal from South Eastern Coalfields Limited in a recently held auction of coal linkages for the cement industry.
South Eastern Coalfields Limited is a subsidiary of Coal India Limited.
“The Company has secured part fuel requirement for the next 5 years. This allocation by Coal India has been made at floor price,” Prism Cement said in a BSE filing.
This intimation is based on the information available on the website of MSTC E-commerce. The Company is yet to receive the allotment letter, it added.
At 03:24 PM, the stock was up 17% at Rs 115 on the BSE. The trading volumes on the counter jumped an over 10-fold with a combined 3.87 million shares changed hands on the BSE and NSE so far.
South Eastern Coalfields Limited is a subsidiary of Coal India Limited.
“The Company has secured part fuel requirement for the next 5 years. This allocation by Coal India has been made at floor price,” Prism Cement said in a BSE filing.
This intimation is based on the information available on the website of MSTC E-commerce. The Company is yet to receive the allotment letter, it added.
At 03:24 PM, the stock was up 17% at Rs 115 on the BSE. The trading volumes on the counter jumped an over 10-fold with a combined 3.87 million shares changed hands on the BSE and NSE so far.