Electrosteel Castings Ltd signs term sheet for acquisition of around 525 acres land in Odisha

The Board of Directors of Electrosteel Castings Limited, at their meeting held on 13 May, 2024 had approved the proposal for setting up a Ductile Iron Pipes & Fittings Plant in Odisha and for the purpose to acquire approx. 500 acres of land parcel which would result in increase in production capacity of DI Pipes and fittings of the unit in phases.

The Company has on this day signed Term Sheet ("TS") with Saffron Resources Private Limited for acquisition of around 525 acres of the said land.

Shares of Electrosteel Castings Limited was last trading in BSE at Rs. 169.75 as compared to the previous close of Rs. 166.95. The total number of shares traded during the day was 45371 in over 794 trades.

The stock hit an intraday high of Rs. 170.00 and intraday low of 166.85. The net turnover during the day was Rs. 7665881.00.

Source : Equity Bulls

Keywords

ElectrosteelCastings INE086A01029 LandAcquisition Odisha DuctileIron PipesandFittings Plant