Eastcoast Steel Share Price

Eastcoast Steel Limited was formerly incorporated on August 20, 1962 as Chudiwala Steels Limited. The Company was converted into a Public Limited in September, 1988 and the name was changed to Eastcoast Steel Limited during the period 199697. It was promoted by Western Ministeel Limited. It manufactures mild steel billets, medium steel billets, low alloy steel billets, carbon steel, spring steel and forging grade steel.These products are consumed by the rerolling industry to produce various sections of steel as required by the construction and engineering industry.It came out with a rights issue in Dec.92 to partfinance the expansion of capacity from one lac tpa to 1.5 tpa.The Steel Plant of the Company at Pondicherry was operational till 1995 and Company ceased to operate its Steel Plant in 1995 and since then, there has been no activity in the Company. In 2021, the Company sold/ disposed of an area of 54.86 acres or thereabout of its Steel Plant, for a consideration of Rs 43.24 Crores. In 202122, it resumed trading in iron steel products including engineering products in the international market.The Company is poised for restructuring its operation into some other diversified activities which are still under consideration of the Board in FY 2022.