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    HomeNewsBusinessStocksAdhunik Metaliks arm gets lease extension; stock gains 20%

    Adhunik Metaliks arm gets lease extension; stock gains 20%

    Orissa Manganese & Minerals Limited (OMML), a wholly owned subsidiary of Adhunik Metaliks, has been granted extension of lease for their three manganese ore mines till March 31, 2020 under merchant category.

    July 15, 2015 / 10:38 IST
       
       
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      Moneycontrol Bureau

       

      Adhunik Metaliks is locked at 20 percent upper circuit on Wednesday as its arm has got an extension of lease for three manganese ore mines.

       

      Orissa Manganese & Minerals Limited (OMML), a wholly owned subsidiary of Adhunik Metaliks, has been granted extension of lease for their three manganese ore mines till March 31, 2020 under merchant category.

       

      The mines are situated at Patmunda, Orahuri and Kusumudhi.

       

      The requisite stamp duty and registration charges have already been deposited to the State Government of Odisha. Patmunda mine has already re-started operation.

       

      OMML has requested the Government to extent the lease of these mines for further 10 years under captive clause.

       

      At 10:26 hrs Adhunik Metaliks was quoting at Rs 18.80, up Rs 3.10, or 19.75 percent on the BSE.

       
      Posted by Rakesh Patil
      first published: Jul 15, 2015 10:38 am

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