Vedanta and JSMDC to jointly establish steel plant in Jharkhand

India Infoline News Service | Mumbai | June 19, 2017 15:09 IST

The Vedanta group and Jharkhand Mineral Development Corporation (JSMDC) are going to jointly establish a steel plant at Manoharpur, in West Singhbhum district.

The Vedanta group and Jharkhand Mineral Development Corporation (JSMDC) are going to jointly establish a steel plant at Manoharpur, in West Singhbhum district.
 
"Around Rs 700 crore of the total MoU signed with the prospective investors have already been implemented on the ground and project proposals worth Rs 15 to 16,000 crore will be effective in July," said Jharkhand Chief Minister, Raghubar Das, while addressing a press conference.
 
The state government had signed Rs 3 lakh crore worth of long-term and mid-term MoUs with the investors during the Momentum Jharkhand investors meet in February.
 
Meanwhile, Vedanta was trading higher by 2.5% at Rs 242.50 per share at 1452 hours IST on BSE. The stock hit a high of Rs 243.30 and a low of Rs 237.90 so far during the day.
 
Vedanta Limited is a natural resource company engaged in the business of manufacturing copper and copper products, and aluminium and aluminium products.
 
Stock View:
 
Vedanta Ltd is currently trading at Rs 241.8, up by Rs 5.3 or 2.24% from its previous closing of Rs 236.5 on the BSE.
 
The scrip opened at Rs 238.3 and has touched a high and low of Rs 243.3 and Rs 237.9 respectively. So far 8560800(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 87911.64 crore.
 
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 278 on 03-Apr-2017 and a 52 week low of Rs 111.6 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 248.8 and Rs 233.1 respectively.
 
The promoters holding in the company stood at 62.86 % while Institutions and Non-Institutions held 23.34 % and 13.67 % respectively.
 
The stock is currently trading above its 100 DMA.

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.