Mukand is currently trading at Rs. 52.25, up by 1.50 points or 2.96% from its previous closing of Rs. 50.75 on the BSE.
The scrip opened at Rs. 51.00 and has touched a high and low of Rs. 56.95 and Rs. 50.20 respectively. So far 106772 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 64.10 on 20-Jan-2015 and a 52 week low of Rs. 20.45 on 19-Mar-2014.
Last one week high and low of the scrip stood at Rs. 56.95 and Rs. 50.00 respectively. The current market cap of the company is Rs. 709.86 crore.
The promoters holding in the company stood at 73.36% while Institutions and Non-Institutions held 5.22% and 21.42% respectively.
Mukand has executed a Business Transfer Agreement for transfer of its Special & Alloy Steel Business to its subsidiary company ‘Mukand Alloy Steels’ on a slump sale basis for a lump sum consideration of Rs 1,590 crore, subject to deduction of debt and net working capital adjustment. The aforesaid transaction will be effective on receipt of requisite approvals, including that of the lenders and on satisfaction of certain conditions precedent.
The board of directors at their meeting held on December 22, 2014 had approved a proposal to transfer its Special & Alloy Steel Business to a subsidiary company. The shareholders of the company have by postal ballot approved the sale with requisite majority on February 18, 2015.
Mukand, earlier known as Mukand Iron & Steel Works, is engaged in manufacturing of alloy and stainless steel long products. The company operates in four segments namely steel, industrial machinery, road construction and other products.
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