The board of Uttam Value Steels has approved the merger of its steel engineering operations with Lloyds Steels Industries Ltd, the former said in a filing to the stock exchanges. According to the scheme of arrangement, shareholders holding 100 shares of face value ₹10 each of Uttam Value will get 68 Lloyds Steels shares. After the demerger of the steel engineering operations, the face value of the ₹10 stock will be reduced to ₹5. The company then plans a five-for-one stock split. Shares of Uttam Value Steels ended at ₹8.55 on the National Stock Exchange, up 3 per cent from the previous close.
Source: The Hindu Business Line
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.