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Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals

LMEL on March 16, converted and allotted the 0% 60 million OFCD's in to 60 million equity shares, representing 11.89% in the total voting equity share capital of LMEL to Sunflag Iron.

Steel, iron, metal, manufacturing, core sector, industries, manufacturing

ICRA has factored in an expected increase in JSW Steel's leverage in the near-to-medium term owing to the proposed acquisition of BPSL

SI Reporter Mumbai
Shares of Sunflag Iron & Steel hit a new high of Rs 160.85 as they surged 7 per cent on the BSE in Monday’s intra-day trade amid heavy volumes. The stock surpassed its previous high of Rs 150.95, touched on February 20, 2023.

At 09:52 AM; the stock was trading 6.5 per cent higher at Rs 159.60, as compared to 0.85 per cent decline in the S&P BSE Sensex. The average trading volumes at the counter jumped over three-fold. A combined 2.5 million shares changed hands on the NSE and BSE.

In past two trading days, the stock

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First Published: Mar 20 2023 | 10:14 AM IST

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