BMW Industries inches up on inaugurating Tube Mill facility at Kolkata
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BMW Industries is currently trading at Rs. 32.15, up by 0.05 points or 0.16% from its previous closing of Rs. 32.10 on the BSE.
The scrip opened at Rs. 32.70 and has touched a high and low of Rs. 33.20 and Rs. 31.90 respectively. So far 4031 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 39.10 on 30-Dec-2022 and a 52 week low of Rs. 21.10 on 06-Jul-2022.
Last one week high and low of the scrip stood at Rs. 34.85 and Rs. 31.25 respectively. The current market cap of the company is Rs. 723.65 crore.
The promoters holding in the company stood at 73.96%, while Non-Institutions held 26.04% stake in the company.
BMW Industries (BMWIL) has successfully inaugurated its Tube Mill facility at NH-6 unit, Kolkata on February 15, 2023. The company has signed a prestigious agreement with Tata Steel for the conversion of MS Pipes at this facility and the trial runs are scheduled to begin in March 2023. The contract will involve the conversion of 40,000 tons of MS Pipes which will ramp-up the company’s capacity at optimal utilization with a potential conversion revenue of Rs 15 crore over the contract duration of nine months till November 2023; with a renewal clause.
The Company is primarily engaged into manufacturing, processing and selling of steel products comprising of engineering and other products and services and activities related to the same.
