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MSP Steel & Power may hive off its cement business

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 1215.70
Tata Steel 175.60
Steel Authority 171.25
Jindal Stainless 736.25
APL Apollo Tubes 2137.60
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