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Indian Metals & Ferro Alloys soars on selling 30 MVA furnace and other related assets

06 Feb 2013 Evaluate

Indian Metals & Ferro Alloys is currently trading at Rs. 295.00, up by 13.45 points or 4.78% from its previous closing of Rs. 281.55 on the BSE.

The scrip opened at Rs. 283.00 and has touched a high and low of Rs. 305.75 and Rs. 283.00 respectively. So far 2234 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 389.45 on 17-Feb-2012 and a 52 week low of Rs. 220.00 on 20-Sep-2012.

Last one week high and low of the scrip stood at Rs. 305.75 and Rs. 277.30 respectively. The current market cap of the company is Rs. 741.64 crore.

The promoters holding in the company stood at 55.73% while Institutions and Non-Institutions held 10.73% and 33.54% respectively. Indian Metals & Ferro Alloys (IMFA) has sold its 30 MVA furnace and other related assets, including the plant and machinery related to briquetting plant and the gas cleaning plant (transferred assets) on February 01, 2013 to IMFA Alloys Finlease (IAFL), a wholly owned subsidiary of IMFA. Further, on February 02, 2013, IAFL leased the transferred assets to IMFA for the entire economic life of the transferred assets pursuant to a finance lease.

On February 04, 2013, in pursuance to a joint venture and shareholders agreement dated January 18, 2011 between IMFA and POSCO, IAFL issued and allotted equity shares to POSCO resulting in POSCO owning 24% of the issued and paid-up share capital and IMFA owning the remaining 76% of the issued and paid-up share capital of IAFL.

Indian Metals & Ferro Alloys is primarily involved in the production of ferro alloys including charge-chrome (high-carbon ferro-chrome), and has an installed furnace capacity of 157 MVA in its two units in Therubali and Choudwar2 districts of Orissa. The company’s operations are supported by a 108 MW captive thermal power plant (at Choudwar) and captive chromite mines.

Indian Metal & Ferro Share Price

1566.85 14.30 (0.92%)
17-Apr-2026 16:59 View Price Chart
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Company Name CMP
Indian Metal & Ferro 1566.85
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