Facor Alloys Ltd clarifies on conversion agreement with Tata Steel Mining Ltd

Facor Alloys Ltd had entered into a conversion agreement dated 28th November, 2020 with M/s Tata Steel Ltd. for conversion of Chrome Ore into Ferro Chrome.

In view of request received from M/s Tata Steel Ltd. (TSL), for operational convenience, a new agreement dated 22nd March, 2021 had been executed with M/s Tata Steel Mining Ltd. (TSML) which is a 100% subsidiary Company of M/s Tata Steel Ltd., on the same terms and conditions as originally with TSL for the contract period effective from 25th March, 2021 upto 31st March, 2025 and consequently the original agreement with M/s Tata Steel Ltd. had been discharged.

Shares of FACOR ALLOYS LTD. was last trading in BSE at Rs. 7.24 as compared to the previous close of Rs. 7.30. The total number of shares traded during the day was 226029 in over 403 trades.

The stock hit an intraday high of Rs. 7.39 and intraday low of 7.09. The net turnover during the day was Rs. 1628888.00.

Source : Equity Bulls

Keywords

FACORALLOYS INE828G01013 ConversionAgreement TataSteelMining