Mining Companies Exploration and Investment News

Sarthak Industries Ltd has announced that the management of the Company at its meeting held on October 16, 2009, has decided to diversify in the business of mining and industries based thereon. To initiate the same the Company has made several mining applications for allotment of major minerals in the state of Madhya Pradesh, Maharashtra & Karnataka for securing continuous availability of raw material through its own mines.

The initiatives taken has is now resulting in the form of securing in principle approval a manganese ore mine of spread over an area of 95 hectares in Chhatarpur District of Madhya Pradesh. For other mining applications also the Company is expecting to get approval very soon. In near future full fledged mining activities in these mines will start meanwhile company is in process of setting up industry based thereon.

To reflect the said changes the Company in its last Annual General Meeting approved change in the name of the Company to “Sarthak Mining & Power Ltd” (subject to availability) by passing a special resolution and also to change main object clause by adding Mining & Power related object in addition to the present main object clause of the Company of manufacturing of LPG cylinders.

The stock closed the day at Rs.21.05, up by Rs.1 or 4.99%. The stock hit an intraday high of Rs.21.05 and low of Rs.21.05.

The total traded quantity was 1000 compared to 2 week average of 2020.