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Tata Metaliks sparkles on expansion plans

This article was posted on Nov 20, 2009 and is filed under Market News

Tata Metaliks ended at Rs 113, higher by Rs 10 or 9%, on the BSE.

Tata Metaliks is trading at the day’s high of Rs 119, stronger by Rs 14 or 15%, on the BSE.

The pig iron producer is eyeing a 3-5 million tonne steel plant in Karnataka, depending on the feasibility, said H M Nerurkar, chairman, on the sidelines of the company’s annual general meeting held recently.

Harsh K Jha, managing director, said 900 acres would be absolutely fine for a 3 mt unit and 5 mt was also not impossible.

Tata Metaliks is increasingly focusing on value addition and diversification into steelmaking, Jha added.

The stock registered strong trading volumes of 213,262 shares as against the two-week average of 13,832

source: Business standard

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