Everest Kanto Cylinder spurts on BSE

Everest Kanto Cylinder is currently trading at Rs 33.25, up by 0.55 points or 1.68% from its previous closing of Rs 32.70 on the BSE.

The scrip opened at Rs 32.95 and has touched a high and low of Rs 33.60 and Rs 32.50 respectively. So far 56615 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 74.40 on 14-Oct-2011 and a 52 week low of Rs 23.40 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs 37.20 and Rs 32.40 respectively. The current market cap of the company is Rs 355.76 crore.

The promoters holding in the company stood at 59.58% while Institutions and Non-Institutions held 11.41% and 29.01% respectively.

Everest Kanto Cylinder would be repaying the entire redemption amount payable in respect of the Zero Coupon Convertible Bond due 2012 on their maturity date of October 10, 2012, from internal accruals and rupee term loan from an Indian bank.

Everest Kanto Cylinder (EKC) is engaged in the business of manufacturing industrial and CNG cylinders. The company has production capacity of 500,000 cylinders on an annual basis. EKC’s Dubai plant manufactures cylinders ranging from 1 to 280 liters water capacity and working pressure from150-400 bar (Test Pressure up to 650 bar