Prakash Industries secures long-term coal linkages; Stock down 3%

24 Jan 2022 , 11:15 AM

Prakash Industries Limited informed the exchanges Saturday that it has secured long-term coal linkages of 1,95,900 MT per annum for the next 5 years in the coal linkage auction concluded on January 22, 2022, by Coal India Limited under Tranche-V of the “Others” sub-sector.

The said linkages, together with the coal linkages of 8, 10,200 MT per annum secured recently in the month of December 2021 for its captive power plant, will further insulate the Company against the volatility in the coal prices and thus provide long term stability to the operations and improve financial performance.

At around 11.20 AM, Prakash Industries Ltd was trading at Rs58.80 per share down by Rs1.8 or 2.97% from its previous closing of Rs60.60 per share on the BSE.