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Readymade Steel soars as its arm bags order worth Rs 115 crore

29 Aug 2013 Evaluate

Readymade Steel India is currently trading at Rs. 70.00, up by 1.50 points or 2.19% from its previous closing of Rs. 68.50 on the BSE.

The scrip opened at Rs. 69.75 and has touched a high and low of Rs. 70.00 and Rs. 69.75 respectively. So far 1900 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 111.00 on 15-Nov-2012 and a 52 week low of Rs. 36.25 on 10-Apr-2013.

Last one week high and low of the scrip stood at Rs. 72.00 and Rs. 66.50 respectively. The current market cap of the company is Rs 82 crore.

The promoters holding in the company stood at 64.44% while Institutions and Non-Institutions held 2.86% and 32.70% respectively. Readymade Steel India's Singapore subsidiary, KH Foges, has won a contract worth S$22 million (Rs 115 crore) from Ministry of Health, Singapore. The contract involves Bored Piling works to construct Hospital at Yishun, Singapore. The project completion period is 8 months.

Readymade Steel India is one of the pioneers in introducing the concept of ready to use steel for the construction industry in the country. RMS's product offerings include ready to use steel, primarily re-bars to be used in construction activities in various sectors like roads, power plants, ports, airports, housing, bridges, metros, monorails etc.

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