KIOCL rose 1.50% to Rs 218.35 after the company executed mining lease deed document with Government of Karnataka for amount of Rs 329.17 crore.
On 18 January 2023, a lease deed document was executed for the grant of a mining lease for iron ore and manganese ore, over an extent of 388 hectares (ha) for a period of 50 years in Devadari Range in Karnataka. The company paid a total amount of Rs 329.17 crore, which includes the stamp duty, cess on stamps and fees for registering documents.KIOCL is engaged in business of iron ore mining benefication and production of high quality pellets. The company reported net loss of Rs 102.22 crore in Q2 FY23 as compared to Rs 30.33 crore in Q2 FY22. Net sales tumbled 66.6% Year on Year to Rs 154.43 crore in Q2 FY23.
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