Usha Martin

Usha Martin zooms 18% after over 10% equity change hands; up 27% in 2 days

As many as 35.7 million equity shares, representing 12.6 per cent of the total equity of Usha Martin, had changed hands on the NSE (34.5 mn) and BSE (1.2 mn) till 01:54 pm, exchange data showed.

SBI Card, Usha Martin: These 3 stocks crossed 200-DMA; what to expect next?

SBI Card stock is seen trading above its 200-DMA after one month. Technical chart shows, the stock can potentially rally up 15% from present level; read details here

Praj, Delta Corp: Trading strategies for 5 overbought NSE smallcap stocks

Outlook on Nifty smallcap stocks: Delta Corp, Eris Life, Praj and Usha Martin can rally up to 28 per cent, while Symphony may witness a corrective move in the near-term; suggests technical charts.

Usha Martin Q4 result: PAT rises 1% to Rs 106 cr, income falls to Rs 838 cr

Usha Martin on Friday reported a marginal 1 per cent rise in consolidated profit after tax (PAT) to Rs 106.33 crore for the March quarter of FY24. The company had posted a PAT of Rs 105.32 crore in the year-ago period, Usha Martin said in a filing to the BSE. The consolidated income in the January-March period declined to Rs 838.5 crore from Rs 866.5 crore in the year-ago period. Commenting on the performance, Usha Martin Non-Executive Director Tapas Gangopadhyay said, "We have concluded the financial year 2023-24 on a positive note with our robust operating cash flows, reflecting strong performance." Despite facing macro-economic challenges, the company managed to generate an 18.6 per cent EBITDA margin during the year, he said. "Notably, our core wire ropes division continued to perform well and contributed 71 per cent to our overall consolidated revenues," Gangopadhyay added. Usha Martin is a leading specialty steel wire rope solutions provider.

Usha Martin Q3 results: Profit rises 28% to Rs 107 cr on reduced expenses

Usha Martin on Tuesday posted a 28 per cent rise in its consolidated net profit at Rs 107.51 crore in the December quarter due to reduced expenses. It had clocked a profit of Rs 84.07 crore in the October-December period of 2022-23, the company said in an exchange filing. The company's total income fell to Rs 802.98 crore over Rs 838.03 crore a year ago. Its total expenses were trimmed to Rs 665.09 crore from Rs 731.28 crore in the third quarter of last fiscal. Usha Martin's wire rope manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Bangkok and, the UK produce the widest range of wire ropes that find application in various industries across the world.

Usha Martin reports 39% rise in net profit to Rs 109 crore in Q2FY24

Usha Martin on Friday reported a 38.66 per cent rise in consolidated net profit to Rs 109.52 crore during the September quarter. It had clocked a net profit of Rs 78.98 crore in the year-ago period, the company said in a regulatory filing. The company's total income rose to Rs 806 crore over Rs 825.83 crore in the year-ago quarter. Its expenses were trimmed to Rs 664.77 crore in the second quarter of the current fiscal from Rs 729.48 crore a year ago. "The Board of Directors of the company has approved the removal (strike-off) of Usha Martin Power & Resources Ltd, non material wholly-owned subsidiary from the records of registrar of companies, West Bengal, subject to requisite approvals of regulatory authorities as applicable," the filing said. Usha Martin is a leading global manufacturer of wire ropes. Usha Martin's wire rope manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Bangkok and the UK produce the widest range of wire ropes that find application in various industrie

Usha Martin arm Espana incorporates wholly owned subsidiary in Spain

Usha Martin International Limited (UMIL) has incorporated a wholly-owned subsidiary, Usha Martin Espana, SL, in Spain. Usha Martin Espana, SL will work in the area of distribution, manufacturing, sale and application of metallurgical products, high-performance wire ropes, LRPC strands, wires, pre-stressing accessories, machinery and cables, Usha Martin said in a regulatory filing on Tuesday. "Usha Martin Espana, SL has been formed as a wholly owned subsidiary of Usha Martin International Limited (UMIL), a wholly owned subsidiary of Usha Martin Limited," it said. UMIL has subscribed to the share capital of euros 3,000, with a face value of euro 1 per share. UMIL holds 100 per cent of the paid-up share capital of Usha Martin Espana, SL. Usha Martin Ltd is a leading global manufacturer of wire ropes with manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Bangkok and the UK.

Stock of this iron & steel products company zoomed 50% in one month

The stock price of Usha Martin surged 8% to Rs 198.75 on the BSE in the intra-day trade on Wednesday after 5.64 million equity shares had changed hands till 2:00 PM

Usha Martin surges 13% on heavy volumes; stock nears record high

The counter saw combined trading volumes of nearly 3 million shares on the BSE and NSE in morning trades so far.

Usha Martin zooms 54% in 4 weeks; stock trades at over 14-year high

The stock traded at its highest level since January 2008; the stock had hit a record high of Rs 154 on January 4, 2008.

Prashant Jhawar resigns as non-executive director of Usha Martin

Alleges several illegalities and non-compliance of the provisions of law by the directors and management in running the company

ED attaches Usha Martin assets worth Rs 190 cr over illegal iron ore sales

Mineral sold was meant for firm's captive use; attached properties pertain to Usha Martin's wire rope business, mines were transferred earlier to Tata Steel as part of steel biz sold

Tussle at Usha Martin sees Basant Kumar Jhawar's ouster from board

The two factions at the apex of Usha Martin's, of Basant-Prashant Jhawar and Brij-Rajeev Jhawar, have been at odds with each other for a while

Usha Martin MD Rajeev Jhawar under ED scanner for FEMA violations: Sources

They registered his statement under FEMA in connection with the purchase and registration of an immovable asset in Singapore in 2013 and a few other overseas transactions

Usha Martin-Tata Steel deal: Basant-Prashant Jhawar may sell majority stake

Basant and Prashant Jhawar had been pressing for the sale of the entire company, even while discussion with Tata Steel was on for transfer of the steel business

Usha Martin gets nod from 99.99% shareholders for steel biz sale to Tatas

A special resolution in this regard was passed with requisite majority at Usha Martin Limited's extraordinary general meeting

Usha Martin hopes to close the sale of steel business to Tata in 3 months

At June end, Usha Martin's debt stood at Rs 47 billion. The residual debt on the Usha Martin balance sheet would be just working capital of Rs 3-4 billion

Basant, Prashant Jhawar to vote in favour of Usha Martin sale to Tata Steel

Days after the Tata Steel deal, Basant and Prashant Jhawar had raised concerns about the utilisation of funds from the sale

Usha Martin to seek shareholders' approval for sale of steel biz to Tatas

The approval will be sought through special business in the extraordinary general meeting next month

Usha Martin management proposes escrow on steel biz sale proceeds

Putting sales proceeds in such deals is a standard mechanism but not the only mechanism, industry experts said