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Gyscoal Alloys gains on plan to acquire shares of Thai Indo Steel Company

11 Dec 2013 Evaluate

Gyscoal Alloys is currently trading at Rs 27.20, up by 0.60 points or 2.26% from its previous closing of Rs 26.60 on the BSE.

The scrip opened at Rs 26.80 and has touched a high and low of Rs 27.55 and Rs 26.80 respectively. So far 8800 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 36.45 on 08-Mar-2013 and a 52 week low of Rs 12.59 on 01-Jan-2013.

Last one week high and low of the scrip stood at Rs. 28.90 and Rs. 26.40 respectively. The current market cap of the company is Rs. 43.05 crore.

The promoters holding in the company stood at 56.77 % while Institutions and Non-Institutions held 0.39 % and 42.85 % respectively.

Gyscoal Alloys is in process of acquisition of shares up to Rs 6.5 crore in Thai Indo Steel Company, a company incorporated and situated in Bangkok for setting up steel manufacturing business in Thailand. After completion of the investment process and allotment of shares, Thai-Indo Steel Company will become the subsidiary of Gyscoal Alloys.

Gyscoal Alloys started its business with the trading of iron and steel scraps, billets and steel long products. The company also decided to trade in mild steel products namely CTD Bars and TMT Bars.

 

 

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