Gallantt Ispat surges on inking MoU with National Small lndustries Corporation
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Gallantt Ispat is currently trading at Rs. 190.45, up by 5.45 points or 2.95% from its previous closing of Rs. 185.00 on the BSE.
The scrip opened at Rs. 185.85 and has touched a high and low of Rs. 194.00 and Rs. 185.85 respectively. So far 63170 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 201.00 on 05-Jan-2024 and a 52 week low of Rs. 46.00 on 23-May-2023.
Last one week high and low of the scrip stood at Rs. 201.00 and Rs. 167.90 respectively. The current market cap of the company is Rs. 4626.56 crore.
The promoters holding in the company stood at 68.94%, while Non-Institutions held 31.06% stake in the company.
Gallantt Ispat has entered into a Memorandum of Understanding (MoU) with National Small lndustries Corporation (NSIC) to supply steel to the Micro, Small and Medium Enterprises (MSME) registered with it. Such tie-up reflects the quality of its products, and after the above tie-up or MoU, its quality products shall be widely distributed and sold which, in turn, will help in improving company's overall Turnover and Profitability.
Gallantt Ispat manufactures Sponge Iron, Mild Steel Billets, Re-Rolled products (TMT bars) and a Modern Roller Flour.
