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Mahindra Ugine Steel sells land worth Rs 126 crore to Mahindra & Mahindra

17 Jun 2013 Evaluate

Mahindra Ugine Steel Company has sold land of the company for a consideration of Rs 126 crore admeasuring about 304,398 square meters (about 76 acres) along with all buildings and structures standing thereon, situated at Jagdish Nagar, Khopoli, District - Raigad, Maharashtra to Mahindra & Mahindra . The said consideration is as per the Valuation Report of an Independent professional firm. The proposal for sale of the land is subject to necessary approvals, as may be required. The Committee of Directors of the company at its meeting held on June 15, 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.

Peers
Company Name CMP
Tata Steel 212.05
JSW Steel 1239.90
SAIL 173.50
Jindal Stainless 787.90
APL Apollo Tubes 2105.45
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