India Steel Works Ltd approves MOU with Stecol International Pvt Ltd

The Board of directors of India Steel Works Ltd at its Meeting held on today i.e 6th January, 2021 has approved and taken on record the MOU with 'Stecol International Private Limited' having its registered office at Essar House, 11, K.K Marg, Mahalaxmi, Mumbai-400034.

As per the terms and conditions of the MOU the Company is required to provide an unconditional and Irrevocable Corporate Guarantee to Stecol for a sum of Rs. 5.0 crores . The Board approved of the aforesaid Corporate Guarantee to be entered in to, with 'Stecol International Private Limited'.

This MOU and the Business relations with SIPL, will enable to enhance the existing scale of operations of the Company and benefit the company and its stakeholders.

Shares of INDIA STEEL WORKS LTD. was last trading in BSE at Rs.0.93 as compared to the previous close of Rs. 0.89. The total number of shares traded during the day was 121491 in over 42 trades.

The stock hit an intraday high of Rs. 0.93 and intraday low of 0.93. The net turnover during the day was Rs. 112986.

Source : Equity Bulls

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