MSP Steel & Power gets nod to hive off its cement business

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

15 Nov 2011 Evaluate

MSP Steel & Power has received an approval to demerge its cement business into a 100% subsidiary company named MSP Cement. The board at its meeting held on November 14, 2011 has approved for the same.

Further, this demerger is subject to approval of shareholders, stock exchanges, the High Court of Calcutta and other relevant authorities.

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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