SAL Steel touches roof on entering into Supply Agreement with AIA Engineering
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SAL Steel is locked its upper circuit limit at Rs. 11.34, up by 0.54 points or 5.00% from its previous closing of Rs. 10.80 on the BSE.
The scrip opened at Rs. 11.34 and has touched a high and low of Rs. 11.34 and Rs. 11.34 respectively. So far 92737 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 16.68 on 12-Jan-2022 and a 52 week low of Rs. 7.55 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 11.73 and Rs. 8.60 respectively. The current market cap of the company is Rs. 96.35 crore.
The promoters holding in the company stood at 50.56% and Non-Institutions held 49.44%.
SAL Steel has entered into a Supply Agreement for 3 years with AIA Engineering for supply of Ferro Chrome by the Company to AIA Engineering on non-exclusive basis. Consequent thereto, AIA Engineering has also agreed to provide a secured Inter Corporate Deposit of Rs 125 crore to the company which will be used by the company to repay its loan / for working capital requirements.
SAL Steel is engaged in manufacture of stainless steel (SS) products.
