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Sarda Energy & Minerals Ltd.

BSE: 504614 Sector: Metals & Mining
NSE: SARDAEN ISIN Code: INE385C01013
BSE 00:00 | 25 May 379.15 -6.75
(-1.75%)
OPEN

389.50

HIGH

392.45

LOW

376.00

NSE 00:00 | 25 May 378.65 -7.25
(-1.88%)
OPEN

386.10

HIGH

390.00

LOW

372.60

OPEN 389.50
PREVIOUS CLOSE 385.90
VOLUME 30399
52-Week high 639.75
52-Week low 239.05
P/E 9.04
Mkt Cap.(Rs cr) 1,367
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 389.50
CLOSE 385.90
VOLUME 30399
52-Week high 639.75
52-Week low 239.05
P/E 9.04
Mkt Cap.(Rs cr) 1,367
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sarda Energy & Minerals Ltd. (SARDAEN) - Company History

Earlier known as Raipur Wires & Steel, Raipur Alloys & Steel was promoted in Dec.'77 by the Tejpaul group, Bombay. The Sanda group purchased it in 1979 and renamed it Raipur Alloys & Steel in 1985. It produces sponge iron, for its captive use to convert it into rolled products for sale. The company came out with an issue of fully convertible debentures in Dec.'92 to part-finance the sponge iron project and meet part of the long-term working capital requirements. The products of the company, mild steel and carbon steel billets, are used by re-rollers. To make its sponge iron plant self-sufficient, it has identified areas in Madhya Pradesh having good deposits of iron ore and has applied for leases in these areas. This will reduce the cost of iron ore, resulting in a lower cost of sponge iron. The company started commercial production in the second kiln in its sponge iron plant, from Sep.'95. During 1997-98, the Indian Bureau of Mines, Govt. of India has granted its approval to the company for mining lease in 100 hectares in Dongarbor in Rajnandgaon district of M.P. In 1998-99, the Company applied for additional area of about 125 Hectares for iron ore mining and expects to get Prospecting License in the near future. It has received mining lease for iron ore in 2001-02. The company has planned for major expansion of both sponge iron and Steel in the near future. With the prior approval the company has alloted 65,40,000 Equity shares on preferential basis to promoters as per SEBI regulations.