BMW Industries entered into an agreement with TATA Steel for the Conversion of Billets to TMT Rebars

BMW Industries (herein referred to as "BMWIL") a listed Steel Service Centre (SSC) in India, has entered into an agreement with Tata Steel (TSL) for the conversion of CC billets into TMT rebars at its steel processing centre at NH-6 in Kolkata. The agreement includes a price variation clause and is long-term in nature and will be in effect between TATA Steel and BMWIL till September 30, 2025.

BMWIL has developed the capabilities to provide its clients with 360-degree services from processing to logistics services. The company's present capacity utilization at the facility is about 40 % and with this agreement with TSL the capacity utilization is expected to increase resulting in improved revenue and profitability. The company has a long association of over 3 decades with Tata Steel Limited (TSL) and during this journey, has set up many processing / manufacturing facilities for TATA Steel.

Shares of BMW Industries Ltd was last trading in BSE at Rs. 27.85 as compared to the previous close of Rs. 26.25. The total number of shares traded during the day was 46915 in over 286 trades.

The stock hit an intraday high of Rs. 31.45 and intraday low of 26.15. The net turnover during the day was Rs. 1309909.00.

Source : Equity Bulls

Keywords

BMWIndustries INE374E01021 TataSteel Conversion TMTRebars