MSP Steel & Power may hive off its cement business

MSP Steel & Power Ltd. | Steel & Iron Products | Metals & Mining | BSE: 532650 | NSE: MSPL

12 Nov 2011 Evaluate

MSP Steel & Power is considering a scheme of arrangement whereby it may demerge the cement business from the company. The board will meet on November 14, 2011 to consider, discuss and transact the above.

Further, the scheme is subject to consent of the shareholders and other applicable provisions under the Companies Act, 1956 and other statutory provisions under other Indian laws.

MSP Steel & Power is currently involved in manufacturing of sponge iron and trading of steel products. The company is the part of MSP Group. The company’s production facility is situated in Jangaon village of Chattisgarh.

Peers

Company Name	CMP
JSW Steel	1278.30
Tata Steel	188.40
Steel Authority	184.00
Jindal Stainless	739.60
APL Apollo Tubes	2184.00
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