Kirloskar Ferrous Industries announces temporary suspension of operations of Mini Blast Furnace II at Koppal plant

Kirloskar Ferrous Industries Limited has announced that the operations of the Mini Blast Furnace ('MBF-II') of the Company situated at Koppal plant, Karnataka have been suspended temporarily from today for around 105 days on account of upgrade.

The upgrade of MBF-II will involve installation of bell less tops and changing of outer shell of the furnace alongwith new refractory brick lining internally. Estimated expenditure would be around Rs. 60 Crores (net of recoverable taxes) and the same shall be financed fully by way of internal accruals.

Shares of Kirloskar Ferrous Industries Ltd was last trading in BSE at Rs. 232.40 as compared to the previous close of Rs. 220.40. The total number of shares traded during the day was 210840 in over 4161 trades.

The stock hit an intraday high of Rs. 238.05 and intraday low of 225.00. The net turnover during the day was Rs. 49278051.00.

Source : Equity Bulls

Keywords

KirloskarFerrousIndustries INE884B01025 KIRLFER MiniBlastFurnace Koppal TemporaryShutDown Upgradation