KIOCL shares boost after bagging 2 orders worth Rs 3.81 cr

New Delhi: KIOCL informed that NMET, Ministry of Mines, Govt. of India has approved the Mineral Exploration Projects to be executed by the Company., due to which the company's share strikes up more than 12 per cent on April 17.

The company bagged two orders for mineral exploration in Karnataka worth Rs 3.81 crore from the National Mineral Exploration Trust.

There are two projects which have been approved including polymetallic mineralization in Nagavanda gold and base metal block in parts of Dhanvangere, Haveri and Shimoga districts in Karnataka, which is worth Rs 1.48 crore. And the second project is for the preliminary exploration of amalgamated Kalburgi limestone blocks in the Jevargi area worth Rs 2.33 crore, according to a BSE filing by KIOCL.

The company's stock price at 11.17 am was at Rs 206 per share, which is up by 14.3 % from the previous close on BSE. In the past five days company's stock price was 15.23%.

About KIOCL

KIOCL Limited is a Flagship Company under the Ministry of Steel, Govt. of India was formed for mining and beneficiation of low grade iron ore at Kudremukh, Karnataka, India. KIOCL is having facilities to operate 3.5 MTPA Iron-oxide Pellet Plant, Blast Furnace Unit to manufacture 2.16 lakh tonnes per annum Pig iron at Mangaluru, Karnataka.KIOCL is an EoU and a profit making, continuous dividend paying Company with a positive net worth and Mini Ratna Category I PSU is also an ISO9001:2015, ISO14001:2015 and ISO45001:2018 certified Company.