Readymade Steel strengthens as its arm bags order worth Rs 150 crore

Readymade Steel India is currently trading at Rs. 292.50, up by 4.60 points or 1.60% from its previous closing of Rs. 287.90 on the BSE. The scrip opened at Rs. 295.00 and has touched a high and low of Rs. 299.00 and Rs. 292.10 respectively. So far 3301 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 299.00 on 21-May-2014 and a 52 week low of Rs. 65.00 on 05-Jun-2013. Last one week high and low of the scrip stood at Rs. 299.00 and Rs. 262.00 respectively. The current market cap of the company is Rs. 363.39 crore. The promoters holding in the company stood at 61.30% while Institutions and Non-Institutions held 2.78% and 35.92% respectively. Readymade Steel India’s (RMS) subsidiary - KH Foges, Singapore has bagged piling contracts worth S$31 million amounting Rs 150 crore which includes a large contract for Mass Rapid Transport Station in Singapore. All the above orders are scheduled to be executed within six to eight months. The current order book stands at S$70 million. Readymade Steel India is one of the pioneers in introducing the concept of ready to use steel for the construction industry in the country. RMS's product offerings include ready to use steel, primarily re-bars to be used in construction activities in various sectors like roads, power plants, ports, airports, housing, bridges, metros, monorails etc.