Kirloskar Ferrous temporary suspends operations of mini blast furnace II at Koppal plant; Stock plunges over 3.5%

3 Feb 2022 , 12:27 PM

Kirloskar Ferrous Industries Ltd has informed that the operations of the Mini Blast Furnace (‘MBF-11’) of the Company situated at Koppal plant, Karnataka have been suspended temporarily from Wednesday for around 105 days on account of upgrade.

As per regulatory filing, the upgrade of MBF-11 will involve installation of bell less tops and changing of outer shell of the furnace alongwith new refractory brick lining internally. Estimated expenditure would be around ~Rs60cr (net of recoverable taxes) and the same shall be financed fully by way of internal accruals.

At around 12:28 PM, Kirloskar Ferrous Industries was trading at Rs223.85 apiece down by Rs8.55 or 3.68% on Sensex.