Mukand bags Rs 154-cr IISCO order

Mumbai: Mukand Ltd has bagged a Rs 154-crore order from SAIL-IISCO, which is in the process of expanding its capacity at Burnpur in West Bengal.

The order for the installation of a universal section mill, which is part of the 2.5 million tonnes new stream expansion of IISCO Steel Plant, was awarded to a consortium led by SMS Meer GmbH of Germany. The Indian portion of the order bagged by the consortium is valued at Rs 299 crore, of which Mukand’s share is Rs 154 crore.

Mukand will execute part of the order along with its group company Mukand Engineers Ltd. The mill is scheduled to be commissioned in 24 months.

Mukand Ltd shares, on the BSE, gained 11 per cent to Rs 93.50, while Mukand Engineers’ rose 8.95 per cent to Rs 34 on Monday.