Midwest gets quarry lease LOIs from Andhra Pradesh Mineral Development Corp

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MIDWESTLTD · price

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Price reaction · full curve 14 horizons · vs prior close

-6.2%1-day move

₹1105.00

prior close

₹1125.00

base price

After-mkt

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5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-1.8-2.6-2.8-5.5-6.2-4.6-3.6-3.2-2.3-4.1-10.0-15.8——

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AI summary

Midwest Limited has accepted Letters of Intent from the Andhra Pradesh Mineral Development Corporation (APMDC) to work three granite quarry leases in Andhra Pradesh under a Raising-Cum-Sale Contract. The quarries are in Chittoor and Srikakulam districts covering about 15.4 hectares. No financial value is disclosed at this stage as only LOIs have been accepted.

Likely market impact

Positive for business expansion into granite quarrying but no financial details disclosed yet, limiting immediate valuation impact.