Monnet Ispat & Energy is locked at upper circuit limit at Rs. 42.75, up by 7.10 points or 19.92% from its previous closing of Rs. 35.65 on the BSE.
The scrip opened at Rs. 41.25 and has touched a high and low of Rs. 42.75 and Rs. 40.10 respectively. So far 62,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 144.25 on 22-Jul-2014 and a 52 week low of Rs. 27.30 on 03-Jun-2015.
Last one week high and low of the scrip stood at Rs. 42.75 and Rs. 34.25 respectively. The current market cap of the company is Rs. 281.00 crore.
The promoters holding in the company stood at 48.59% while Institutions and Non-Institutions held 24.02% and 27.39% respectively.
Monnet Ispat & Energy has signed non-binding Memorandum of Understanding (MoU) with JSW Energy for entering into discussion to sell majority and controlling stake of its subsidiary, Monnet Power Company, which is engaged in the business of developing 1,050 MW (2 x 525) Coal fired thermal power plant located at Malibrahmani, Angul Orissa.
Monnet Ispat & Energy is engaged in the business of sponge iron, steel ingot & billets and coal mining.
