Vardhman Special Steels surges after Aichi Steel Corporation hikes stake in the company
Vardhman Special Steels is currently trading at Rs 276.85, up by 10.15 points or 3.81% from its previous closing of Rs 266.70 on the BSE.
The scrip opened at Rs 270.00 and has touched a high and low of Rs 281.30 and Rs 270.00 respectively. So far 4584 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52-week high of Rs 343.40 on 21-Jun-2024 and a 52-week low of Rs 178.30 on 17-Mar-2025.
Last one week high and low of the scrip stood at Rs 290.00 and Rs 245.20 respectively. The current market cap of the company is Rs 2262.79 crore.
The promoters holding in the company stood at 60.37%, while Institutions and Non-Institutions held 4.82% and 34.81% respectively.
Vardhman Special Steels has inked an agreement with Aichi Steel Corporation (Aichi Steel), Japan, under which Aichi Steel has increased its equity stake in the company from 11.33% to 24.90%. The enhanced partnership is aligned with the shared vision of both organizations to develop a world-class green steel manufacturing facility in India, aimed at producing high-quality special steels for the global automotive and engineering industries.
The upcoming plant with a manufacturing capacity of 5 lakh Tonnes per annum (TPA) with an estimated capex of Rs 2000 crore, backed by technical support from Aichi Steel, will integrate advanced Japanese processes and technology to serve both domestic and ASEAN market.
Vardhman Special Steels, incorporated in 2010, is part of the Vardhman group. It has its operating unit in Ludhiana, Punjab, which manufactures hot rolled bars and caters to the diverse requirements of various end-user segments such as engineering, automotive, tractor, bearing and allied industries.
