Surya Roshni is currently trading at Rs. 196.20, up by 10.95 points or 5.91% from its previous closing of Rs. 185.25 on the BSE.
The scrip opened at Rs. 189.55 and has touched a high and low of Rs. 198.35 and Rs. 189.55 respectively. So far 41,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 245.70 on 28-Oct-2016 and a 52 week low of Rs. 124.30 on 01-Mar-2016.
Last one week high and low of the scrip stood at Rs. 198.35 and Rs. 184.05 respectively. The current market cap of the company is Rs. 859.97 crore.
The promoters holding in the company stood at 63.32%, while Institutions and Non-Institutions held 4.61% and 32.07% respectively.
Surya Roshni has commenced commercial production at its newly set-up steel pipe plant at Hindupur District, Ananthapuramu in state of Andhra Pradesh for manufacturing of ERW Black and GI Pipes with an installed capacity of 90,000 M.T per annum from March 01, 2017.
With the start of operations at Hindupur Plant, the company will achieve savings in logistic cost and further leveraging its presence in the premium market of South India resulted into creation of a larger and stronger steel pipes business with economies of scale.
Further, being a plant set-up at notified backward area in the State of Andhra Pradesh, company is eligible for deduction under section 32AC & 32AD of the Income Tax Act, 1961.
Surya Roshni is into the business of manufacturing electric resistance welded (ERW) steel pipes & lighting products, with facilities at Bahadurgarh (Haryana), Kashipur (Uttarakhand) and Malanpur (Madhya Pradesh).