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16-Jan2018

Gallantt Ispat trades jubilantly on the BSE

Gallantt Ispat is currently trading at Rs. 317.05, up by 28.80 points or 9.99% from its previous closing of Rs. 288.25 on the BSE.

The scrip opened at Rs. 317.05 and has touched a high and low of Rs. 317.05 and Rs. 311.00 respectively. So far 15744 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 510.35 on 20-Jan-2017 and a 52 week low of Rs. 173.55 on 04-Dec-2017.

Last one week high and low of the scrip stood at Rs. 317.05 and Rs. 265.00 respectively. The current market cap of the company is Rs. 895.22 crore.

The promoters holding in the company stood at 64.09%, while institutions and non-institutions held 0.16% and 35.74% respectively.

Gallantt Ispat has received approval from Ministry of Corporate Affairs for the Scheme of Amalgamation of Shikharji Rolling Mills, Shikharji Steel & Agro Products, Bhavika Steel Agencies, Shrinu Agro, Shrinu Steel Works, Gyanika Flour Mills, Satlaj Ispat and Satlaj Flour Mills (hereinafter together referred to as 'Eight Subsidiaries') with the company, on January 08, 2018 . Pursuant to the approval of the Scheme of Amalgamation of Eight Subsidiaries and corresponding shareholding of these Eight Subsidiaries and along with the company in Bhavika Smeltors and Food Products, Shrinu Rolls and Milling, Satlaj Rolls and Milling and Antarmukh Steel Manufacturer (hereinafter together referred to as 'Four Subsidiaries'), these Four Subsidiaries have gained status of Wholly Owned Subsidiaries of the company. Hence, company has acquired four Wholly-Owned Subsidiaries through acquisition of entire shareholding of these Four Subsidiaries. The board of directors at its meeting held on January 15 has taken note of it.

Gallantt Ispat is engaged in the manufacturing and marketing of sponge iron, mild steel billets, re-rolled products (TMT bars and mild steel structural) and wheat flour products.


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