Mukand has received its board’s approval to transfer its cold finished bars and wire business, having an installed capacity of 6000 MT per month, to a newly formed subsidiary for a consideration off about Rs 252.50 crore.
The amount is to be paid by the subsidiary partially by issue of share at premium and partially by way of cash on such terms as may be agreed to by the board of directors. The company’s board has also approved a proposal to convert this subsidiary into joint venture company (JVC) with Sumitomo Corporation, Japan (60% Mukand and its group company and 40% Sumitomo).
Mukand is engaged in manufacturing of alloy and stainless steel long products. Earlier known as Mukand Iron & Steel Works; the company operates in four segments namely steel, industrial machinery, road construction and other products.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: