Mahindra Ugine is currently trading at Rs. 66.10, up by 1.35 points or 2.08% from its previous closing of Rs. 64.75 on the BSE.
The scrip opened at Rs. 65.60 and has touched a high and low of Rs. 69.15 and Rs. 65.60 respectively. So far 76053 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 70.95 on 17-Jan-2013 and a 52 week low of Rs. 45.80 on 13-Aug-2012.
Last one week high and low of the scrip stood at Rs. 68.50 and Rs. 60.75 respectively. The current market cap of the company is Rs. 217.96 crore.
The promoters holding in the company stood at 55.47% while Institutions and Non-Institutions held 4.83% and 39.70% respectively.
Mahindra Ugine Steel Company has received an approval for the proposal of incurring a capital expenditure of not exceeding Rs 56.64 crore for setting up a new production facility at Dharwad, Karnataka. The new project is being set up to meet the increasing demand of stamping components of automotive businesses situated in southern region of India.
The investment is proposed to be made during the financial years 2013 to 2016. The project is expected to get commissioned in a phased manner in last quarter of FY 2015, subject to the necessary approvals. The board at its meeting held on February 01, 2013 has approved for the same.
Mahindra Ugine Steel Company is engaged in the manufacturing of alloy & special steel through Electric Arc Furnace (EAF) route & caters to the automotive, engineering, bearing & other industries. The company manufactures a wide array of products including skin components, underbody components, critical assemblies, chassis components and car body sheet metal (Body in White) parts with a total capacity of 30,000 metric tons.
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