SAL Steel inks supply agreement with AIA Engineering; Stock gains 5%

19 Sep 2022 , 11:11 AM

SAL Steel Limited has entered into a Supply Agreement for 3 years with AIA Engineering Limited (“AIA”) for supply of Ferro Chrome to AIA on non-exclusive basis.

Consequent to above, Company has also agreed to avail a secured Inter Corporate Deposit of Rs125 crore from AIA which will be used by the Company to repay its loan / for working capital requirements, the company said.

On Monday, at around 11:10 AM, S.A.L Steel Ltd is currently trading at Rs11.34 per share up by Rs0.54 or 5% from its previous closing of Rs10.80 per share on the BSE.

The scrip opened at Rs11.34 per share and has touched a high and low of Rs11.34 per share and Rs11.34 per share respectively so far today. The current market cap of the company is Rs91.68 crore.

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