OM Metals surges on securing contract for setting up 70MW thermal power project

OM Metals is currently trading at Rs. 31.70, up by 0.60 points or 1.93% from its previous closing of Rs. 31.10 on the BSE.

The scrip opened at Rs. 32.90 and has touched a high and low of Rs. 32.90 and Rs. 31.10 respectively. So far 15515 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 50.80 on 06-Apr-2011 and a 52 week low of Rs. 20.00 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 33.80 and Rs. 30.50 respectively. The current market cap of the company is Rs. 301.91 crore.

The promoters holding in the company stood at 69.63% while Institutions and Non-Institutions held 4.39% and 25.98% respectively.

OM Metals Infraprojects has secured a contract for setting up of 70MW lignite based thermal power project in Bikaner district at Rajasthan on BOOT basis. The company has won this order in joint venture with SPML Infra.

Further, this order entities the company to engage in the generation of power on long term basis for a period of 25 years to be sold to state utilities.

OM Metals Infraprojects is a conglomerate having diverse business activities and interests related to hydro-mechanical equipments, turnkey solutions for steel fabrication, hydro-power developments, real estate, leasing, finance, entertainment centers, hotels and tourism.