This Dolly Khanna and Mukul Agrawal stock which deals in the business of Sale and Steel Products Manufacturing and Power generation, surged upto 11 percent after the company commenced operations in Coal Extraction.
Price Movement
Prakash Industries Limited‘s stock in Monday’s session touched a day’s high of Rs. 154.40 which was 11.07 percent higher. The stock reiterated from the day’s high and was trading at Rs. 147.95 per share up by 6.44 percent from the previous closing price of Rs. 139. The stock has delivered a negative return of around 23 percent in the past year and has underperformed the Nifty Index in the same period.
Ace Investor Stake
As of the December 2024 quarter, Ace Investor Dolly Khanna is invested and holds around 1.28 percent stake increased from 1.17 percent in the September 2024 quarter. Another Ace Investor Mukul Mahavir Agrawal is invested in the company by holding around 1.4 percent stake and being consistent in stake.
What Happened
The company’s stock surged in day’s trade after they commenced operations by extracting coal in the Bhaskarpara Coal Mine and the material has been despatched to its Integrated Steel Plant in Champa, Chhattisgarh. The coal supply from the mine shall result in cost reductions and improve efficiency in its plant operations as per the company’s recent filing.
Business Segments
As per the recent December 2024 results, the company recognizes its revenue from operations from Iron and Steel.
Financial Performance
Their Q3FY25 results show revenue from operations of Rs. 926 crore which increased by 4.63 percent year on year, from Rs. 885 crore in Q3FY24 and a 14.02 percent decline from Rs. 1,077 crore in Q2FY25. Their net profit increased by 3.70 percent year on year, from Rs. 81 crores in Q3FY24 to Rs. 84 crores in Q3FY25. Quarterly, the profits declined by 6.66 percent.
About the company
Prakash Industries Limited was established in 1980. It is a leading integrated steel and power company in India that specializes in manufacturing sponge iron, steel products, and renewable energy generation.
Written by Santhosh S
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