KFIL restarts Mini Blast Furnace Operations at Hiriyur Plant amidst market recovery

Kirloskar Ferrous Industries Limited (KFIL) (BSE : 500245), one of the leading castings and pig iron manufacturers in India, announced yesterday restarting of it's mini blast furnace at Hiriyur.

In response to challenging market conditions characterized by weakened demand and declining pig iron prices, KFIL had temporarily halted operations of the blast furnace at Hiriyur on 22 February 2024. This strategic decision reflected KFIL's commitment to prudent operational management amidst fluctuating market dynamics, ensuring sustainability and efficiency in its production processes.

With the recent upturn in market sentiment and improvement in pig iron prices, KFIL is pleased to announce the restart of operations of the Hiriyur mini blast furnace effective 15 April 2024. This strategic move underscores KFIL's proactive stance in capitalizing on market opportunities while maintaining its reputation for reliability and resilience in the face of industry challenges.

"We are pleased to announce the recommencement of operations at our Hiriyur blast furnace facility," stated Mr. R. V. Gumaste, MD of KFIL. "This decision reflects our strategic vision to swiftly adapt to evolving market dynamics, ensuring sustained value delivery to our stakeholders while upholding the highest standards of operational excellence."

Shares of Kirloskar Ferrous Industries Ltd was last trading in BSE at Rs. 606.40 as compared to the previous close of Rs. 610.10. The total number of shares traded during the day was 15228 in over 752 trades.

The stock hit an intraday high of Rs. 610.00 and intraday low of 592.50. The net turnover during the day was Rs. 9176576.00.

Source : Equity Bulls

Keywords

KirloskarFerrousIndustries INE884B01025 MiniBlastFurnace HiriyurPlant