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Steelcast zooms on plan to tap multi-billion dollar US Railways demand for castings

Steelcast Ltd. | Castings/Forgings | Automobiles | BSE: 513517 | NSE: STEELCAS

19 Jan 2012 Evaluate

Steelcast is currently trading at Rs. 119.90, up by 12.35 points or 11.48% from its previous closing of Rs. 107.55 on the BSE.

The scrip opened at Rs. 110.00 and has touched a high and low of Rs. 124.00 and Rs. 109.50 respectively. So far 4318 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 128.00 on 25-Jul-2011 and a 52 week low of Rs. 74.20 on 23-Aug-2011.

Last one week high and low of the scrip stood at Rs. 124.00 and Rs. 101.00 respectively. The current market cap of the company is Rs. 46.12 crore.

The promoters holding in the company stood at 43.51% while Non-Institutions held 56.49% respectively.

Steelcast, India’s leading steel casting manufacturer is planning to tap the huge multi-billion dollar US Railways demand for castings. As part of the last lap of getting certified by the US Railways, a team from the USA to will be inspecting the company's castings manufacturing facilities located at Bhavnagar in Gujarat. Once the approval is received in a couple of months, Steelcast will become only the second such company from India.

In June 2010, the Gujarat based company along with Michigan Steel, USA had formed a 50:50 joint venture Steelcast LLC to tap the huge potential for castings in the USA, especially the US Railways for freight transport, which is one of the biggest in the world. Steelcast also has a technical and marketing alliance with Michigan Steel.

The US Rail certification will give the company a big advantage over other players while bidding for contracts from the Indian Railways in future, especially the huge multi-billion opportunities that will emanate from the upcoming Delhi-Mumbai Freight Corridor. Indian Railways have already extended Class-A foundry status to Steelcast and sample orders for manufacturing couplers have been received.

Further, the Association for American Railways (AAR) approval is at an advanced stage. One of the North American companies has already placed an order with Steelcast to manufacture railway castings for US Railways. This company is very actively interacting with Steelcast for facilitating the AAR approval at the earliest possible.

Steelcast Share Price

295.55 2.95 (1.01%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
AIA Engineering	3958.20
Alicon Castalloy	684.70
Nelcast	141.10
Steelcast	295.55
Synergy Green Inds.	514.80
View more..

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Steelcast zooms on plan to tap multi-billion dollar US Railways demand for castings

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