As Steelcast Ltd continues its efforts to reduce concentration and reliance on the mining, earthmoving and construction equipment industries, the company has entered into a long-term supply agreement with a large US original equipment manufacturer (OEM) to supply steel castings to the rail industry in North America.this new one.The agreement will help us further strengthen our position in overseas markets.In a challenging environment, entering the North American railroad industry will help us reduce business risk and generate additional revenue for the company.The expansion of the North American rail industry is a sign of our capabilities and technical expertise in the steel casting business. The steel castings covered in the agreement are in the pre-development stage with a potential output of Rs.Rs 75 crore per year for 2-3 years.Considering the company’s high quality standards and on-time delivery, the management is confident in establishing a long-term relationship with this customer.Shares of STEELCAST LTD.BSE was last traded at Rs.296.75 rupees, compared to the previous close.303.50.The total number of shares traded on the day was 845 shares out of more than 40 trades.The stock hit an intraday high of Rs.310.50 and an intraday low of 293.00.Net turnover for the day is Rs.255198.00.
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Post time: Feb-18-2022
