Originally incorporated on 12 Jul.73 as Ajanta Iron & Steel Company, the companys name was changed to Nova Tor Steel in Nov.90 and to Nova Steels (India) in 1992. In Sep.90, the present management (R K Gambir and G K Gambir) took up a controlling interest in the company. In Oct.92, one of the directors made an offer of 6 lac shares at par to the public, to enable the companys shares to be listed. Nova Steels (India) is a part of the Nova R G group (other group companies being Nova Electro Magnetics and Nova Iron & Steel). The company is engaged in the manufacture of bars and twisted bars with an installed capacity of 61,200 tpa.The company came out with a rights-cum-public issue in Sep.94 at a premium of Rs 15 to part-finance setting up a melting shop with a 2,00,000-tpa capacity and a rolling mill with a matching capacity for the manufacture of cold twisted deformed (CTD) and non-CTD bars, mild-steel wire rods and medium/high-carbon wire rods at village Dagori (Bilaspur district), Madhya Pradesh.The products of the company are high-quality wire rods and twisted bars manufactured using as feed stock, sponge iron obtained from Nova Iron & Steel which has set up a sponge iron plant. The project is expected to be commissioned in 1996.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.