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Maithan Alloys zooms on emerging as H1 Bidder in auction of Impex Metal & Ferro Alloys

Maithan Alloys is currently trading at Rs. 634.40, up by 18.55 points or 3.01% from its previous closing of Rs. 615.85 on the BSE.

The scrip opened at Rs. 627.65 and has touched a high and low of Rs. 653.00 and Rs. 627.65 respectively. So far 1665 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 706.60 on 13-Jun-2018 and a 52 week low of Rs. 339.75 on 30-Jan-2019.

Last one week high and low of the scrip stood at Rs. 661.75 and Rs. 606.05 respectively. The current market cap of the company is Rs. 1845.53 crore.

The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 3.02% and 22.00% respectively.

Maithan Alloys has participated in the auction of Impex Metal & Ferro Alloys (under liquidation) as a going concern. The Liquidator officer has intimated the company that its bid has been ranked as the highest bid and has declared the company as H1 BIDDER.

The necessary approval of National Company Law Tribunal in this regard is awaited.

Maithan Alloys is a holding company. The company is engaged in the business of manufacturing and exporting of all three bulk Ferro alloys, including Ferro Silicon, Ferro Manganese and Silico Manganese, and has a captive power plant.

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