Shares of SRU Steels Limited continued to be in the news during trading last week. Last Friday, the company’s shares reached an intraday high of Rs 8.29 with a rise of 2.8 percent. Earlier on Thursday, an upper circuit of 5 percent was imposed on the stock, due to which it reached Rs 8.07 per share. The stock has a 52-week high of Rs 15.20 and low of Rs 5.71, which is currently 41.33 percent above its 52-week low. The company has a market cap of Rs 46.39 crore, and is poised to become debt free by June 2024.
board meeting agenda
SRU Steels Limited has scheduled a board meeting on January 13, 2025 at its registered office in Delhi. The main objective of this meeting is to discuss and approve the plan to increase the financial resources of the company. It will consider options for raising funds in various ways, such as issuance of equity shares, convertible instruments, or other securities. The company can consider options like preferential allotment, rights issue, qualified institutional placement (QIP), American Depository Receipt (ADR), Global Depository Receipt (GDR), Foreign Currency Convertible Bond (FCCB).
Strong presence and product portfolio
SRU Steels has a strong presence in the steel market due to its partnership with Jindal Steel & Power Limited. Presently, the company is operating in Delhi and Ahmedabad and sources its raw material from reputed suppliers like Jindal Steel Limited and Steel Authority of India Limited. The product portfolio of SRU Steels includes various items of stainless steel, such as sheets, PVC-coated sheets, checkered sheets, coils, pipe fittings, rods, angles, channels, round tubes and flat bars.
