Indian Metals -; Ferro Alloys' subsidiary Utkal Coal gets compensation of Rs20.69 crore; Stock soars 4%

15 Dec 2022 , 09:17 AM

Indian Metals & Ferro Alloys Ltd has informed that its subsidiary company Utkal Coal Ltd has received the compensation of Rs20.69 crore.

According to the filing, the compensation has been received towards reimbursement of statutory expenses from Ministry of coal on Wednesday for its Utkal ‘C’ coal block, consequent upon the issuance of its vesting order to the new allottee, the company informed.

At around 9:17 AM, Indian Metals & Ferro Alloys Ltd is currently trading at Rs265.75 per share up by Rs11 or 4.32% from its previous closing of Rs254.75 per share on the BSE.

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