/ Monnet Ispat Rises 7% On Takeover Talks ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 21 June 2017

Monnet Ispat & Energy Limited was rallying on the bourses during Wednesday’s trading session on the back of rumours of a takeover of the debt-burdened company by public sector Steel Authority of India Ltd (SAIL).

Even though, Chaudhary Birender Singh, Steel Minster has denied any such plans. In the previous two trading session, the shares of the company had surged nearly 25% and is up by 7.7% at Rs 38.15 per share on Wednesday.

The stock of the company has given 56% returns in a period of one year and has outperformed the BSE Small cap and BSE Metal indices over the same time span.

Monnet Ispat and Energy Limited is engaged in the business of conducting coal mining operations and manufacturing coal-based sponge iron and various other steel/iron-based products. The company operates through three segments: iron & steel, power and others.

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