Bhushan Steel top newsmaker!
Bhushan Steel is the top trending news on the social media. The stock price rose almost 10% to Rs.65.80. Its 52-week high is at Rs.102.80 and low at Rs.51.15.
The stock price has jumped up on unconfirmed news that JSW Steel might be doubling its bid value. 3rd Feb is the last date for submitting the bid to takeover this beleaguered steel company.
The liquidation or minimum value has been set at Rs.15,000 crore and now the grapevine has it that JSW might submit its bid at Rs.25,000 to Rs.30,000 crore.
JSW is bidding in partnership with Japanese steel major, JFE Steel Corp and Piramal Enterprises.
Bhushan Steel is sitting on a debt of Rs.44,478 crore.
Bhushan Steel is an integrated Steel producer with capacity of 5.6 MTPA, seen as one of the quality auto grade Steel maker, supplying to Maruti, M&M, Honda, Ashok Leyland, Hero Moto and other White Good makers and Engineering company. 3 Plants at Khopoli, Ghaziabad, and Odisha. It had ended FY17 with a revenue of Rs.13,706 crore and EBITDA of Rs.3,054 crore.
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