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MSP Steel & Power Ltd.

BSE: 532650 Sector: Metals & Mining
NSE: MSPL ISIN Code: INE752G01015
BSE 15:18 | 16 Jan 27.00 -0.65
(-2.35%)
OPEN

28.00

HIGH

29.00

LOW

26.35

NSE 15:15 | 16 Jan 26.70 -0.90
(-3.26%)
OPEN

28.80

HIGH

28.95

LOW

26.25

OPEN 28.00
PREVIOUS CLOSE 27.65
VOLUME 40131
52-Week high 29.00
52-Week low 12.00
P/E
Mkt Cap.(Rs cr) 238
Buy Price 27.00
Buy Qty 1359.00
Sell Price 27.60
Sell Qty 100.00
OPEN 28.00
CLOSE 27.65
VOLUME 40131
52-Week high 29.00
52-Week low 12.00
P/E
Mkt Cap.(Rs cr) 238
Buy Price 27.00
Buy Qty 1359.00
Sell Price 27.60
Sell Qty 100.00

MSP Steel & Power Ltd. (MSPL) - Company History

MSP Steel & Power Ltd, a part of the MSP group, is a Kolkata-based steel manufacturer. The company is engaged in the production of iron and steel. The company has a diversified portfolio, including sponge iron, steel, power generation, rolling mills and ferro alloys. They market their TMT bars under the brand name of MSP Gold Theremax TMT. They are having their manufacturing unit at Raigarh in Chattisgarh. MSP Steel & Power Ltd was incorporated on November 18, 1968 as Adhunik Rollers Private Limited. The name of the company was changed to MSP Steel & Power Pvt Ltd on March 7, 2003. The company subsequently became a public company under the name of MSP Steel & Power Ltd with effect from September 9, 2003. During the year 2005-06, the company started commercial production of their second 300 TPD Sponge Iron Kiln, Induction furnace and 16MW Power Plant, in the Raigarh Project. In April 2006, rolling division mill started commercial production. In June 2006, the company came out with the public issue of Rs 16 crore and in July 2006, the company shares got listed in Bombay Stock Exchange and National Stock Exchange. During the year 2006-07, the company started commercial production of their Coal Washery, MS Billets and additional 8 MW Power Plant. They also started operations of their private railway siding. During the year, The Ministry of Coal, Government of India, granted allocation of Coal Block of Madanpur (South) jointly with four other companies which will work through a joint venture company named Madanpur South Coal Company Ltd. In May 4, 2007, the company signed a memorandum of understanding (MoU) with the government of Chhattisgarh for their expansion programme in the state of Chhattisgarh with proposed investment of Rs 8,500 million. During the year 2007-08, the company entered into an MoU with Madhya Pradesh State Government to setup two million tonnes cement plant. In December 2008, the pellet plant having the production capacity of 300,000 MTPA was commissioned on trial basis and in March 2009, they started commercial operations. During the year, some of the company's expansion projects are under progress which include Structural Rolling mill having capacity of 128,000 MTPA, 132 KVA Line, Raw material handling system, 350 MTPA Sponge Iron Plant, 18 MW Power Plant, 383,625 MTPA Coal Washery and 30 MW Power Plant. Captive Coal Block of Madanpur South Coal Company Ltd, which was allotted to the company by Government of Chattisgarh is progressing as scheduled and will be commissioned during the year 2010-11.