Rathi Steel has informed exchanges that it has secured an order to supply stainless steel products to Bansal Wire Industries. The total worth of the project is approximately Rs 7.8 crore.
Share Market News: Shares of Rathi Steel and Power Ltd shares surged over 5 per cent to hit upper circuit limit at Rs 69.56 per share against the previous close of Rs 66.25. The stock’s 52-week high is Rs 69.56, and its 52-week low is Rs 6.78.
Rathi Steel has informed exchanges that it has secured an order to supply stainless steel products to Bansal Wire Industries. The total worth of the project is approximately Rs 7.8 crore.
“Company has received an order to supply stainless steel products to Bansal Wire Industries Limited, who are leaders in downstream applications of our products, of an approximate order value of Rs 7.8 Cr (including GST and considering value of base grade product category). The Company has received the said Order in normal course of business and the said transaction is not falling under related party transaction and is done on arm’s length basis,” the company said in a releas.
Recently, the company’s steel melting unit in Ghaziabad was declared a Pioneer Unit under the “Industrial and Service Sector Investment Policy 2004” by the Government of Uttar Pradesh.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)