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Surya Roshni surges on getting nod for expansion plan of existing steel unit in Gwalior

29 May 2013 Evaluate

Surya Roshni is currently trading at Rs 79.50, up by 1.95 points or 2.51% from its previous closing of Rs. 77.55 on the BSE.

The scrip opened at Rs 83.00 and has touched a high and low of Rs 83.00 and Rs 79.10 respectively. So far 8721 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 84.40 on 07-Feb-2013 and a 52 week low of Rs 44.70 on 05-Jun-2012.

Last one week high and low of the scrip stood at Rs 79.85 and Rs 73.35 respectively. The current market cap of the company is Rs 339.91 crore.

The promoters holding in the company stood at 64.01% while Institutions and Non-Institutions held 0.02% and 35.97% respectively.

Surya Roshni has received an approval for expansion of Rs 22.50 crore in existing steel unit located at Malanpur in Gwalior. The board of directors at its meeting held on May 28, 2013 has approved for the same.

Surya Roshni has three segments viz steel, lighting and real estate. The company diversified into lighting products with the manufacturing of General Lighting Systems (GLS) and Fluorescent Tube Lamps (FTL) sold under brand name ‘Surya’ and started the production of Compact Fluorescent Lamps (CFLs) in 2007.

Peers
Company Name CMP
JSW Steel 1274.05
Tata Steel 183.60
Steel Authority 176.60
Jindal Stainless 750.75
APL Apollo Tubes 2181.00
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