Birla Corp Unit Bags Telangana Limestone & Manganese Block, Stock Trades Flat
Shares of Birla Corporation Ltd are trading flat after touching a day’s high of Rs 1,320 on 23rd September, even though its wholly-owned subsidiary, RCCPL Private Ltd, was declared the preferred bidder for the Guda-Rampur limestone and manganese block by the Telangana Department of Mines & Geology on Monday, 22nd September.
The Telangana Department of Mines & Geology confirmed the decision in a letter dated 20th September, after RCCPL offered the highest final price of 57.10%. The Guda-Rampur block in Adilabad district spans 3.34 sq km.
RCCPL’s bid means it will share 57.10% of the revenue from limestone and manganese extracted from the block with the government.
Earlier, on 15th September, Birla Corp re-appointed Sandip Ghose as managing director and CEO for another three years starting 1st January, 2026.
For Q1, Birla Corp reported a net profit of Rs 120 crore, up from Rs 33 crore a year earlier. Revenue rose 12% to Rs 2,454 crore from Rs 2,190 crore, while EBITDA jumped 34% to Rs 346.6 crore, with margins improving to 14.12% from 11.8% in Q1FY25.
At 11:20 AM, the shares of Birla Corporation were trading 0.78% higher at Rs 1,312 on NSE.
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