Shares of Adhunik Metaliks surged nearly 20 per cent today after its wholly-owned subsidiary Orissa Manganese & Minerals was granted extension of lease for three manganese ore mines till March 31, 2020.
The stock soared 19.75 per cent on BSE to Rs 18.80 -- its highest trading permissible limit for the day.
On the NSE, shares of the company jumped 19.81 per cent to Rs 18.75.
Adhunik Metaliks in a filing to BSE yesterday said, Orissa Manganese & Minerals Limited (OMML), wholly-owned subsidiary of the company, has been granted extension of lease for their three manganese ore mines (Patmunda, Orahuri & Kusumudhi) till March 31, 2020 under merchant category.
Patmunda mine has already restarted operation. OMML has requested the government to extent the lease of these mines for further 10 years under captive clause, the filing added.
