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The latest update is out from Vraj Iron & Steel Ltd. ( (IN:VRAJ) ).
Vraj Iron & Steel Limited has increased the corporate guarantee it provides on behalf of its associate company, Vraj Metaliks Private Limited, in favour of HDFC Bank to support that entity’s business and operational requirements. The guarantee has been enhanced from Rs 25 crore to Rs 35 crore, is classified as a contingent liability for Vraj Iron & Steel, and, according to the company, is being extended on an arm’s-length basis in the ordinary course of business, with no immediate impact on the listed entity’s financial position despite the involvement of promoter-linked entities in the transaction.
More about Vraj Iron & Steel Ltd.
Vraj Iron & Steel Limited operates in the iron and steel industry, with manufacturing facilities in Chhattisgarh, India. The company, formerly known as Vraj Iron and Steel Pvt. Ltd. and Phil Ispat Pvt. Ltd., focuses on producing steel and related metal products, supplying industrial customers in regional markets through its plants in Raipur and Bilaspur.
Average Trading Volume: 1,664
Technical Sentiment Signal: Sell
Current Market Cap: 4.05B INR
See more data about VRAJ stock on TipRanks’ Stock Analysis page.