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Prakash Steelage strengthens on getting nod for incorporation of WOS

18 Feb 2013 Evaluate

Prakash Steelage is currently trading at Rs. 100.90, up by 0.85 points or 0.85% from its previous closing of Rs. 100.05 on the BSE.

The scrip opened at Rs. 101.00 and has touched a high and low of Rs. 105.00 and Rs. 97.50 respectively. So far 10165 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 200.00 on 04-Sep-2012 and a 52 week low of Rs. 92.50 on 24-Jan-2013.

Last one week high and low of the scrip stood at Rs. 114.00 and Rs. 95.10 respectively. The current market cap of the company is Rs. 176.58 crore.

The promoters holding in the company stood at 65.84% while Institutions and Non-Institutions held 4.23% and 29.93% respectively.

Prakash Steelage has received an approval for incorporation of wholly-owned subsidiary (WOS) of the company as recommended by the Executive Committee Meeting of the company and the same has been taken on record. The board of company at its meeting held on February 15, 2013 has approved for the same.

Prakash Steelage specializes in meeting specific requirements of customers and offers complete solution for stainless steel welded & seamless pipes and tubes.

Peers
Company Name CMP
JSW Steel 1268.00
Tata Steel 184.75
Steel Authority 180.00
Jindal Stainless 750.90
APL Apollo Tubes 2270.65
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