Surya Roshni plan to set up steel pipe plant in Andhra Pradesh

India Infoline News Service | Mumbai | September 20, 201610:43 IST

The Hindupur plant, with a production capacity of 1,00,000 mt per annum has been set up to produce square and rectangular sections and GI Pipes to cater to the South Indian steel pipe market.

Surya Roshni is set to commission a modern steel pipe plant at Hindupur in Andhra Pradesh to cater to the South Indian steel pipe market, as per media reports.

“As a leading brand, Prakash Surya steel pipes have a strong presence in the market and the new plant will further strengthen its presence”, B. Raju, Managing Director, Surya Roshni Limited has been quoted as saying.

The Hindupur plant, with a production capacity of 1,00,000 mt per annum has been set up to produce square and rectangular sections and GI Pipes to cater to the South Indian steel pipe market.

Surya Roshni Ltd is currently trading at Rs. 205.65, up by Rs. 2.45 or 1.21% from its previous closing of Rs. 203.2 on the BSE.

The scrip opened at Rs. 203.8 and has touched a high and low of Rs. 205.8 and Rs. 203.6 respectively. So far 112897(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 890.63 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 208.7 on 08-Sep-2016 and a 52 week low of Rs. 119 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 206.3 and Rs. 190.65 respectively.

The promoters holding in the company stood at 63.32 % while Institutions and Non-Institutions held 1.54 % and 35.14 % respectively.

The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

 

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