Sanghvi Forging surges on plan to commission new unit at Vadodara

21 Nov 2011

Sanghvi Forging and Engineering (SFEL) is currently trading at Rs 25.55, up by 0.50 points or 2.00% from its previous closing of Rs 25.05 on the BSE.

The scrip opened at Rs 24.00 and has touched a high and low of Rs 25.55 and Rs 24.00 respectively.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 144.90 on 30-May-2011 and a 52 week low of Rs 22.10 on 05-Oct-2011.

Last one week high and low of the scrip stood at Rs 32.00 and Rs 24.05 respectively. The current market cap of the company is Rs 31.79 crore.

The promoters holding in the company stood at 56.77% while Institutions and Non-Institutions held 2.84% and 40.39% respectively.

SFEL, makers of forging products for non-automotive sector is likely to the commission its new plant at Vadodara at a cost of Rs 125 crore. It will be commissioning the new unit by May 2012. The new unit will have a capacity of 15,000 tonnes an annum (TPA), as against the 3,600 TPA capacity of its existing unit there. The facility will produce bigger forging products of up to 40 tonne each, compared to existing unit produces products of up to four tonne each.

The company is revising its product mix by concentrating more on low-volume, higher-margin and bigger products used in certain critical components in the aerospace, nuclear power plants, oil and gas and defence sectors. SFEL aims its major equipment, such as the 1,200-tonne forging press and forging manipulator from Italy and Germany respectively by February 2012.

SFEL manufactures forged flanges, forgings and machined components for various industries like oil and gas, fertilizers, power, desalination and water treatment, ship building, defence, fabrication of process equipments, instrumentation etc. It is also capable of manufacturing both standardized as well as customized products.

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Sanghvi Forging&Engg Share Price

31.25 -1.60 (-4.87%) Nov 15, 18:01
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