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Usha Martin rises on planning to set up Greenfield facility in overseas market

Usha Martin Ltd. | Steel & Iron Products | Metals & Mining | BSE: 517146 | NSE: USHAMART

01 Feb 2013 Evaluate

Usha Martin is currently trading at Rs. 30.05, up by 0.10 points or 0.33% from its previous closing of Rs. 29.95 on the BSE.

The scrip opened at Rs. 30.00 and has touched a high and low of Rs. 30.05 and Rs. 30.00 respectively.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 43.25 and a 52 week low of Rs. 21.95.

The current market cap of the company is Rs. 915.00 crore.

The promoters holding in the company stood at 41.37% while Institutions and Non-Institutions held 31.99% and 19.41% respectively.

Usha Martin, leading producer of specialty steel and one of the largest wire rope manufacturer, is planning to set up Greenfield facility in Thailand as it wants to manufacture high-performance steel wire ropes. The facility will be set up by Usha Siam Steel Industries a subsidiary of Usha Martin in joint venture (JV) with Japan-based Tesac Wire Ropes Company.

In December 2012, the company’s subsidiary - Usha Siam Steel Industries formed a 50:50 JV in Thailand with TESAC Wire Ropes, a leading Japanese wire rope company, under the name and style TESAC Usha Wire Rope Company for manufacture of high performance steel wire ropes. The subsidiary will invest close to $16 million and through this JV it aims to produce 1,000 tonnes a day of steel rope in the next five years.

The company is looking for cater to the Asean market as the ropes manufactured by Japanese units are becoming expensive and this unit will help reduce the cost.

Usha Martin Share Price

448.60 2.75 (0.62%)

17-Apr-2026 16:59 View Price Chart

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Usha Martin rises on planning to set up Greenfield facility in overseas market

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