Sandur Manganese has been right there at the top spot among gainers on the BSE since the opening bell today; opening 6% higher at Rs.929.95, it rose further by 11.5% to hit an intraday high at Rs.977.95 and is currently trading at Rs.969 levels. Its 52-week high is at Rs.1700.13 and low at Rs.655.
The stock is reacting to the news it announced yesterday post market hours – the Central Empowered Committee (CEC) has granted approval for enhancing the company’s Mine ore production from 2.86 lakh tonnes to 5.82 lakh tonnes.
The CEC has granted approval after examining in detail the recommendations of the Technical Committee of the Government of Karnataka and the report of the Indian Council of Forestry Research & Education (ICFRE), Ministry of Environment, Forest & Climate Change.
Company is expected to receive Consent for Operation from the Karnataka State Pollution Board and approval from the Monitoring Committee in due course of time and plans to start the operations at enhanced level of production from the next financial year.