Prakash Industries is currently trading at Rs. 95.40, up by 5.35 points or 5.94% from its previous closing of Rs. 90.05 on the BSE.
The scrip opened at Rs. 93.05 and has touched a high and low of Rs. 95.45 and Rs. 92.15 respectively. So far 110652 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 276.00 on 16-Jan-2018 and a 52 week low of Rs. 84.65 on 28-Nov-2018.
Last one week high and low of the scrip stood at Rs. 100.00 and Rs. 84.65 respectively. The current market cap of the company is Rs. 1528.93 crore.
The promoters holding in the company stood at 39.30%, while Institutions and Non-Institutions held 6.56% and 54.14% respectively.
Prakash Industries is likely to record growth of around 30% in sales volumes and 40% in sales realization in Q3FY19 as compared to the same quarter last year. The demand of Steel in the country is robust and the production volume of the company has been increasing every month on account of modernization and enhancement initiatives undertaken by the company.
The company is meeting its enhanced working capital requirements and capital expenditure on projects entirely through internal accruals. The company is on schedule to complete its 6th Sponge Iron Kiln with 15MW Co-generation Power Plant in Q4FY19, which will further improve the operational efficiencies and reduce dependence on expensive market purchases.
Prakash Industries is an integrated steel and power company. Its products include coal mines, iron ore mines, sponge iron, power, steel melting shop and ferro alloys.
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