Uttam Galva hikes prices by Rs 2,000/tonne

Uttam Galva Steels, a  manufacturer and exporter of value added steel product, has increased the prices of galvanised and cold rolled steel products by Rs 2,000 per tonne with effect from 15 August. The price hike is due to the mismatch in supply and demand of HR Coil in the domestic market as imports of HRC are restricted, the company said in a statement.

In the domestic market, the company is a major supplier to the automobile, white goods, general engineering and construction industries. Some of its major end users include Bajaj Auto, Bajaj Tempo, M&M, Kirloskar, Crompton, L&T, etc. The company currently exports its products to more than 142 countries including Australia, France, Germany, Greece, UK and USA.

 

On the Bombay Stock Exchange (BSE), the share prices of the company jumped 20 per cent on Wednesday to close the trading session at Rs 73.20.