Power Mech Projects Ltd’s (PMPL) shares surged 10 per cent as the company bid for a Mine Development and Operation Project (MOO) from the Steel Authority of India Ltd. (SAIL). After securing the KBP MOO Project in June 2021, PMPL has now won its second MOO contract. Additionally, the company will supply steel-grade coking coal to SAIL and carry out rehabilitation and resettlement activities. The project possesses substantial reserves, with a total coal extraction of 96.78 mt and an annual capacity of 4 MTPA. Shares of the company went up by 10 per cent to Rs 4,609 at 10:40 a.m. on BSE.

Source: The Hindu July 31, 2023 15:15 UTC