Kirloskar Ferrous Industries jumps on starting operations of 20 MW power plant in Karnataka
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. 465.75, up by 8.75 points or 1.91% from its previous closing of Rs. 457.00 on the BSE.
The scrip opened at Rs. 464.85 and has touched a high and low of Rs. 467.95 and Rs. 458.00 respectively. So far 19174 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 467.95 on 31-Mar-2023 and a 52 week low of Rs. 185.05 on 01-Jul-2022.
Last one week high and low of the scrip stood at Rs. 467.95 and Rs. 405.00 respectively. The current market cap of the company is Rs. 6473.37 crore.
The promoters holding in the company stood at 56.66%, while Institutions and Non-Institutions held 11.78% and 31.55% respectively.
Kirloskar Ferrous Industries (KFIL) has commissioned operations of 20 MW Power plant attached to second phase of Coke Oven Plant situated at Bevinahalli Village, District Koppal, Karnataka with effect from March 29, 2023.
The power will be generated by recovering the waste heat emanating from second phase of Coke Oven Plant. It will be utilized primarily for captive consumption resulting in the reduction of power cost. The installation of second phase of Coke Oven Plant along with 20 MW Power Plant has involved the capital expenditure of around Rs 290 crore (net of recoverable taxes) and the same has been financed partly by internal accruals and partly by availing borrowing from the bank.
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.
