Gallantt Ispat is currently trading at Rs. 73.35, up by 4.72 points or 6.88% from its previous closing of Rs. 68.63 on the BSE.
The scrip opened at Rs. 67.36 and has touched a high and low of Rs. 75.70 and Rs. 67.36 respectively. So far 54910 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 75.70 on 10-Jul-2023 and a 52 week low of Rs. 46.00 on 23-May-2023.
Last one week high and low of the scrip stood at Rs. 75.70 and Rs. 58.85 respectively. The current market cap of the company is Rs. 1769.80 crore.
The promoters holding in the company stood at 68.75%, while Institutions and Non-Institutions held 0.01% and 31.23% respectively.
Gallantt Ispat has entered into an agreement with East Coast Railway, Bhubaneshwar, Odisha to buy and own Railway Wagons to get rid of wagons shortfall with Indian Railways. Unavailability of rakes (a collection of wagons pulled by an engine) by Indian Railway is a major concern and pet peeve of the Company. Rakes are provided by the Indian Railway on priority by payment of 15% premium on freight charges and even then, availability of railway rakes is very difficult. Availability of railway rakes is more difficult through placing normal indent nowadays and recent past. Hence, company is in the process of acquiring two railway rakes under the General-Purpose Wagon Investment Scheme (GPWIS) of Railway Board.
Thus, Indian Railways offer 10% rebate on railway freight rate for 15 years under the GPWI Scheme. As such, altogether company would be able to save 25% on the freight cost (10% rebate plus 15% on premium indent). The company has decided about owning railway rakes to boost up loading of Iron ore and coal (primary raw materials of the Company) from origin (port, mining area etc.) to its manufacturing facilities. Owning two railway rakes would cost the Company around Rs 55 crore but having own rakes would assure that raw materials are dispatched timely, hassle free and cost effectively.
Gallantt Ispat manufactures Sponge Iron, Mild Steel Billets, Re-Rolled products (TMT bars) and a Modern Roller Flour.
| Company Name | CMP |
|---|---|
| Tata Steel | 140.85 |
| JSW Steel | 918.45 |
| SAIL | 116.15 |
| Jindal Stainless | 719.70 |
| Jindal Saw | 300.40 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Limited to the first 10 users today!
Practical Stock Investing Hand Book
By - Raymond Moses
Founder of MoneyWorks4Me | Consultant | Trainer | Author | TEDx Speaker
Register & Get Instant Access!Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
