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Ferro Alloys touches roof on receiving nod to set up an additional 27 MVA Furnace

15 May 2017 Evaluate

Ferro Alloys Corporation is locked at upper circuit at Rs. 11.25, up by 0.53 points or 4.94% from its previous closing of Rs. 10.72 on the BSE.

The scrip opened at Rs. 11.25 and has touched a high and low of Rs. 11.25 and Rs. 11.25 respectively. So far 52,000 shares were traded on the counter.

The BSE group 'XT' stock of face value Rs. 1 has touched a 52 week high of Rs. 12.31 on 13-Apr-2017 and a 52 week low of Rs. 4.30 on 27-May-2016.

Last one week high and low of the scrip stood at Rs. 11.25 and Rs. 10.41 respectively. The current market cap of the company is Rs. 208.43 crore.

The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 0.03% and 24.98% respectively.

Ferro Alloys Corporation has received its board’s approval to set up an additional 27 MVA Furnace in its Charge Chrome Plant at D.P. Nagar, Randia, District Bhadrak, Odisha. Once the additional furnace is operations, it would enhance the existing production capacity by 50,000 MT per year thus taking the overall production capacity to about 120,000 MT per annum.

The power requirement for operation of the additional Furnace would be met by supply of uninterrupted power from the Captive Power Plant set up by Facor Power (FPL), the Subsidiary of the Company, adjacent to the Charge Chrome Plant, resulting into no transmission loss etc. This will also improve the capacity utilization of the power available from FPL.




Ferro Alloys Corp. Share Price

0.92 0.00 (0.00%)
06-Mar-2020 18:01 View Price Chart
Peers
Company Name CMP
Indian Metal & Ferro 1566.85
Maithan Alloys 1036.10
Nava 704.50
Indsil Hydro Power 41.30
Shyam Century 5.61
View more..

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