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Electrosteel Castings soars on plan to offload investments in Singardo International

24 Dec 2014 Evaluate

Electrosteel Castings is currently trading at Rs. 18.10, up by 0.40 points or 2.26% from its previous closing of Rs. 17.70 on the BSE.

The scrip opened at Rs. 17.85 and has touched a high and low of Rs. 18.25 and Rs. 17.80 respectively. So far 101342 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 1 has touched a 52 week high of Rs. 36.90 on 11-Jun-2014 and a 52 week low of Rs. 12.72 on 18-Feb-2014.

Last one week high and low of the scrip stood at Rs. 19.30 and Rs. 15.05 respectively. The current market cap of the company is Rs. 647.87 crore.

The promoters holding in the company stood at 53.01% while Institutions and Non-Institutions held 10.63% and 35.68% respectively.

Electrosteel Castings has received an approval to offload 720,000 equity shares of the company’s investment in Singardo International, an associate company of the company. The board of directors at their meeting held on December 24, 2014 has approved for the same.

Electrosteel Castings is engaged in the manufacturing solutions for water supply and sewerage systems. ECL has been certified for ISO 9001:2000 standard by different bodies such as IRQS and BSI for the manufacture of DI pipes for water, sewerage, gas and ash transportation.

 

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