/ Tata Sponge Iron Gets Environment Clearance From Ministry Of Environment ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 9 May 2017

Tata Sponge Iron on Monday informed of receiving environment clearance from Ministry of Environment, Forest & Climate Change, Government of India, for enhancement of DRI production by 35000 TPA i.e. from 3,90,000 TPA to 4,25,000 TPA in the existing facility located at Bileipada, district Keonjhat, Odisha, as per BSE filing.

The stock of the company is trading at Rs 868 per share up by 1.3% at 10:16 AM IST on BSE. It hit a high of Rs 878 and a low of Rs 864.25 so far during the morning hours.

The company had reported a net profit of Rs 21.20 crore for the quarter ended March 2017 as against Rs 13.08 crore for the same quarter in the previous year.

The Company is engaged in the production of sponge iron by direct reduction method of iron ore and generation of power from waste heat. The Company operates through two segments: manufacture of sponge iron and generation of power.

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