Chennai Ferrous Industries Limited updates on lease agreement of sponge iron plant

Chennai Ferrous Industries Limited had finalised a new Lease arrangement, to operate our sponge iron plant with M/s. MTC Business Pvt Ltd.

As per the lease arrangement MTC Business Pvt Ltd has agreed to operate its sponge iron plant located at Sy.No. 180 to 183, 190& 191, Pappankuppam Village, Near Nagaraja Kandigai, Macdhrpakkam Road, Gummidipoondi-601 20, Thiruvallur District. M/s. MTC Business pvt. Lid. has also agreed to review the design and specification of the plant. The said lease arrangement / agreement on mutual agreed terms shall be effective from 01.07.2020.

Shares of Chennai Ferrous Industries Ltd was last trading in BSE at Rs.4.44 as compared to the previous close of Rs. 4.42. The total number of shares traded during the day was 558 in over 2 trades.

The stock hit an intraday high of Rs. 4.5 and intraday low of 4.44. The net turnover during the day was Rs. 2507.

Source : Equity Bulls

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