Mughal completes procurement, installation of 2 furnaces

MG News | February 10, 2022 at 10:57 AM GMT+05:00

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February 10, 2022 (MLN): Mughal Iron & Steel Industries Limited (MUGHAL) has successfully completed procurement and installation of two induction furnaces of 12 MW each, company’s filing on bourse showed today.

to improve its capacity, MUGHAL planned to procure 3 furnaces, however, the plan was temporarily postponed in April 2019.

In September 2021, the company decided to resume the procurement of the furnaces since the BMR of the Bar re-rolling mill had been completed.

These furnaces will be crucial to increase the utilization of rerolling capacity.

At the time of writing this, the stock of MUGHAL is trading at a price of Rs112.65, up by Rs2.03 or 1.84% DoD.

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