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MSP Steel trades in green on getting approval for demerging cement unit

15 Nov 2011 Evaluate

MSP Steel & Power is currently trading at Rs 40.00, up by 0.10 points or 0.25% from its previous closing of Rs 39.90 on the BSE.

The scrip opened at Rs 40.90 which remains high till now and has touched a low of Rs 40.00 respectively.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 70.95 on 15-Nov-2010 and a 52 week low of Rs 39.00 on 11-Nov-2011.

Last one week high and low of the scrip stood at Rs 42.45 and Rs 38.90 respectively. The current market cap of the company is Rs 231.82 crore.

The promoters holding in the company stood at 71.90% while Institutions and Non-Institutions held 0.77% and 27.33% respectively.

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.

MSP Steel & Power Share Price

35.58 -0.27 (-0.75%)
17-Apr-2026 16:59 View Price Chart
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