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Maithan Alloys tumbles on cutting production at Kalyaneshwari Plant by 15%

02 Nov 2016 Evaluate

Maithan Alloys is currently trading at Rs. 286.80, down by 36.00 points or 11.15% from its previous closing of Rs. 322.80 on the BSE.

The scrip opened at Rs. 307.50 and has touched a high and low of Rs. 307.50 and Rs. 280.10 respectively. So far 48,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 434.50 on 08-Aug-2016 and a 52 week low of Rs. 80.00 on 10-Nov-2015.

Last one week high and low of the scrip stood at Rs. 332.90 and Rs. 261.00 respectively. The current market cap of the company is Rs. 834.92 crore.

The promoters holding in the company stood at 69.46%, while Institutions and Non-Institutions held 0.04% and 30.50% respectively.

Maithan Alloys has cut the production at the Kalyaneshwari Plant by 15% with effect from October 31, 2016 due to adverse market conditions. The production at the plant is likely to be cut further in the near future.

Between July and October 2016, the cost of Imported Manganese Ore, which accounts for the major cost of production has increased by 200%, Imported Coke by 80%, whereas the sales price of Silico Manganese, the finished product, has increased only by 30%.

Maithan Alloys is engaged in the manufacturing of ferro alloys, having an installed capacity of 136 MVA at three locations i.e. 49 MVA at Kalyaneshwari, West Bengal and 15 MVA at Ri-Bhoi, Meghalaya and 72 MVA at Visakhapatnam, Andhra Pradesh. MAL is also engaged in the trading of metal & mineral products and wind power operation.


Maithan Alloys Share Price

1036.10 17.90 (1.76%)
17-Apr-2026 16:59 View Price Chart
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