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26-Apr2018

Shah Alloys touches roof on entering into settlement agreement with ARCIL

Shah Alloys is locked at upper circuit at Rs. 41.55, up by 1.95 points or 4.92% from its previous closing of Rs. 39.60 on the BSE.

The scrip opened at Rs. 40.50 and has touched a high and low of Rs. 41.55 and Rs. 40.15 respectively. So far 4,694 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 49.00 on 20-Mar-2018 and a 52 week low of Rs. 14.25 on 28-Jun-2017.

Last one week high and low of the scrip stood at Rs. 44.40 and Rs. 39.30 respectively. The current market cap of the company is Rs. 82.26 crore.

The promoters holding in the company stood at 53.75%, while Non-Institutions held 46.25% stake in the company.

Shah Alloys has entered into settlement agreement with Assets Reconstruction Company India (ARCIL). Karur Vysya Bank and IDBI Bank have assigned their entire outstanding debts of Shah Alloys to the ARCIL. Subsequently, the company has entered into settlement agreement with ARCIL in respect of credit facilities availed by the company and the settled amount to be paid up to December 31, 2020 and March 31, 2022 respectively.

Shah Alloys is engaged in the manufacturing of stainless steel. The company also has a minor operation in the form of a medical store.



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