/ Prakash Industries Surges Over 3% As The Company Sheds Its Debt ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 11 May 2017

Shares of Prakash Industries are trading in positive territory as the company in its recent BSE filing informed that the company has reduced its debt by around 67 crores on account on conversion of FCCB.

The company has issued US $17.85 million FCCB in September 2015, out of which the US $9.90 million bonds have since been converted.

The shares of the company have outperformed BSE Small-Cap index and BSE Sensex index on a yearly basis.

Prakash Industries Limited is engaged in the production of ferroalloys, MS TMT/MS Coil and allied products, HB Wire Rod, and PVC Pipe and Sockets. The Company's segments include Power, Steel and PVC Pipe.

 The Company's product range includes Sponge Iron, Power, Wire Rod, Thermo mechanically treated (TMT) bars.

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