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OM Metals Infraprojects rises on inking MOU with German based DSD Noell GmbH

06 Feb 2012

OM Metals Infraprojects is currently trading at Rs. 34.95, up by 0.70 points or 2.04% from its previous closing of Rs. 34.25 on the BSE.

The scrip opened at Rs. 34.95 and has touched a high and low of Rs. 34.95 and Rs. 34.90 respectively. So far 1,471 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. 35.40 and Rs. 30.25 respectively. The current market cap of the company is Rs. 336.00 crore.

The promoters holding in the company stood at 69.63% while Institutions and Non-Institutions held 4.24% and 26.13% respectively.

OM Metals Infraprojects has signed a memorandum of understanding (MOU) with one of the leading renowned company in the world in hydro-mechanical equipments sector globally, DSD Noell GmbH, from Germany. The company has inked MOU for technical co-operation and for forming a joint venture company in India for technical support, knowhow and to bid for larger hydro-mechanical projects in the Indian subcontinent and global co-operation in manufacturing.

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

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.

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