Kirloskar Ferrous Industries gains on resuming commercial operations of `Mini Blast Furnace - I`
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Kirloskar Ferrous Industries is currently trading at Rs. 495.05, up by 6.30 points or 1.29% from its previous closing of Rs. 488.75 on the BSE.
The scrip opened at Rs. 491.20 and has touched a high and low of Rs. 498.00 and Rs. 490.15 respectively. So far 1280 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 533.50 on 01-Aug-2023 and a 52 week low of Rs. 236.65 on 26-Sep-2022.
Last one week high and low of the scrip stood at Rs. 499.75 and Rs. 472.05 respectively. The current market cap of the company is Rs. 6793.51 crore.
The promoters holding in the company stood at 56.61%, while Institutions and Non-Institutions held 12.42% and 30.97% respectively.
Kirloskar Ferrous Industries has resumed commercial operations of the ‘Mini Blast Furnace - I’ of the Company situated at Koppal, Karnataka with effect from September 7, 2023. The replacement of top equipment with bell less top as well as other allied maintenance activities will result in improved operating efficiency of ‘Mini Blast Furnace - I’. The expenditure for aforesaid activities was around Rs 50 crore (net of recoverable taxes) and the same has been financed fully by way of internal accruals.
Kirloskar Ferrous Industries (KFIL) was formed with the intention of transforming the high quality Pig Iron and Grey Iron casting industry. With a parent company that possesses a rich 130 year manufacturing and engineering legacy, KFIL has been built on a solid foundation of innovation and customer centricity.
