Bhushan Steel gains on receiving Odisha SPCB’s approval to start Blast Furnace No 2

Bhushan Steel is currently trading at Rs. 446.55, up by 0.85 points or 0.19% from its previous closing of Rs. 445.70 on the BSE. The scrip opened at Rs. 445.70 and has touched a high and low of Rs. 451.00 and Rs. 444.00 respectively. So far 11410 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 504.00 on 11-Nov-2013 and a 52 week low of Rs. 437.30 on 03-Apr-2014. Last one week high and low of the scrip stood at Rs. 454.00 and Rs. 440.55 respectively. The current market cap of the company is Rs. 10154.66 crore. The promoters holding in the company stood at 71.22% while Institutions and Non-Institutions held 5.75% and 23.03% respectively. Bhushan Steel has received all consents and approvals from the State Pollution Control Board (SPCB), Odisha for starting and operating the Blast Furnace No 2 installed at its Steel Plant al Meramandali, Odisha. The company has started the process of operation of Blast Furnace No 2 and the production from the furnace is expected to start in few weeks.   Bhushan Steel, formerly known as Bhushan Steel & Strips, is one of the leading players in the steel industry with steel making capacity of 2.2 Million Tonnes Per Annum (MTPA).