Kirloskar Ferrous Industries Limited update on acquisition of assets of VSL Steels Limited

After receipt of the approval of the Board of Directors and the Members of VSL Steels Limited ["the Seller"], the Company has completed on 23 December 2020 the acquisition of movable and immovable assets relating to the pig iron plant of the Seller situated at Paramenahally Village, Hiriyur, Chitradurga District - 577598, Karnataka.

The Company is in process to renovate those assets and to obtain necessary approvals / permissions / licenses from statutory / government authorities for commencement of operations. The company will update in due course after commencement of operations of the pig iron at that plant.

Shares of KIRLOSKAR FERROUS INDUSTRIES LTD. was last trading in BSE at Rs.136.65 as compared to the previous close of Rs. 133.95. The total number of shares traded during the day was 19936 in over 637 trades.

The stock hit an intraday high of Rs. 143 and intraday low of 134. The net turnover during the day was Rs. 2752306.

Source : Equity Bulls

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