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Vardhman Special Steels surges on planning to raise funds

Vardhman Special Steels is currently trading at Rs. 80.10, up by 2.10 points or 2.69% from its previous closing of Rs. 78.00 on the BSE.

The scrip opened at Rs. 81.00 and has touched a high and low of Rs. 85.10 and Rs. 80.10 respectively. So far 688 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 142.20 on 13-Aug-2018 and a 52 week low of Rs. 70.30 on 01-Aug-2019.

Last one week high and low of the scrip stood at Rs. 85.10 and Rs. 70.30 respectively. The current market cap of the company is Rs. 295.06 crore.

The promoters holding in the company stood at 66.48%, while Institutions and Non-Institutions held 10.27% and 23.25% respectively.

Vardhman Special Steels is planning to raise funds by way of preferential issue of equity shares of the company and execute of certain agreements in relation thereto. A meeting of the board of directors of the company will be held on August 10, 2019, to consider the same.

Vardhman Special Steels incorporates cutting-edge manufacturing technology, ensuring the highest levels of quality and compliance. Placed among the leading producers of Special and Alloy Steels, the company caters to diverse requirements of hot rolled bars for Engineering, Automotive, Tractor, Bearing and Allied Industries.

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