Page 2 - Shyam Metalics & Energy Ltd.
Shyam Metalics up 9%; forays into stainless steel biz with Mittal Corp buy
On Tuesday, SMEL announced their third acquisition of Mittal Corp with a foray into the stainless steel (SS) / wire rod & bar mill business.
 "Shyam Metalics up 9%; forays into stainless steel biz with Mittal Corp buy")
Shyam Metalics acquires Mittal Corp, forays into stainless steel business
Shyam Metalics and Energy Ltd on Tuesday said it has forayed into the stainless steel business by acquiring Mittal Corp Ltd in an NCLT-led resolution process. The company will invest about Rs 7,500 crore over the next 4-5 years to scale up its metal business, Shyam Metalics vice-chairman and managing director Brij Bhusan Agarwal said. "Mittal Corp's acquisition cost is about Rs 450 crore, and we outbid Jindal Stainless, the competitor for the sick asset put under the NCLT resolution process. The acquisition will enable us to foray into stainless steel and special products, such as defence materials," he said. To meet market regulator SEBI's norm, the promoters need to dilute their current holding of 88 per cent in Shyam Metalics by at least 13 per cent within the next 18 months, Agarwal said. The process of dilution will depend on the market situation but is likely to begin in the next 6-9 months. The company said that stake dilution will be from a combination of a fresh equity is
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Stocks to watch: TCS, Shyam Metalics, Tata Motors, PNB Housing, HDFC
JK Tyre & Industries, on Wednesday, said it has widened its original equipment manufacturer (OEM) supply to Hyundai Motor India
 "Stocks to watch: TCS, Shyam Metalics, Tata Motors, PNB Housing, HDFC")
Dodla Dairy, KIMS: Short-term investors should book profit, say analysts
For those who didn't get the IPO allotment, analysts say the business model, industry outlook, management acumen and valuations of these companies should be kept in mind before investing
 "Dodla Dairy, KIMS: Short-term investors should book profit, say analysts")
Shyam Metalics makes strong debut, lists at 24% premium over issue price
The stock rallied to Rs 399, up 30 per cent from its issue price, in intra-day deals on the BSE
 "Shyam Metalics makes strong debut, lists at 24% premium over issue price")
Shyam Metal, Sona BLW surprise the street, soar over 20% on trading debut
Market was expecting Sona to list at a muted premium and hoped Shyam Metalics would gain more than 30% on listing
 "Shyam Metal, Sona BLW surprise the street, soar over 20% on trading debut")