Usha Martin is currently trading at Rs. 61.50, up by 4.70 points or 8.27% from its previous closing of Rs. 56.80 on the BSE.
The scrip opened at Rs. 59.10 and has touched a high and low of Rs. 62.00 and Rs. 58.30 respectively. So far 38,000 shares were traded on the counter.
The BSE group 'B' stock of face value Re. 1 has touched a 52 week high of Rs. 106.95 on 07-Apr-2010 and a 52 week low of Rs. 49.30 on 08-Mar-2011.
Last one week high and low of the scrip stood at Rs. 62.00 and Rs. 52.65 respectively. The current market cap of the company is Rs. 1730.93 crore.
The promoters holding in the company stood at 38.38% while Institutions and Non-Institutions held 50.17% and 9.90% respectively.
Usha Martin has raised $125 million via external commercial borrowing [ECB] from State Bank of India as sole mandated lead arranger and book runner with DBS Bank, State Bank of India [Canada] and The Bank of Tokyo - Mitsubishi UFJ as other participating lenders.
This exercise of company is for parting finance for its capex plans of Rs 1200 crore in order to strengthen its cost competitiveness in steel business and also maintain its global leadership position in the wire and wire rope industry.
Usha Martin is engaged in the manufacturing of wire rods, bright bars, steel wires, specialty wires, wire ropes, strand, conveyor cord, wire drawing and cable machinery. The company was incorporated as a joint venture between Usha Martin Industries and Bihar State Electronics Development Corporation, AEG Kabel, Germany (now Kabelrhydt and a member of the Alcatel group) and DEG, Germany.
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