Bhuwalka Steel

Bhuwalka Steel gets nod to buy Benaka Sponge Iron for Rs. 9.9 crore

Bhuwalka Steel Industries Ltd has announced that the company has secured its board of director’s approval for buying Benaka Sponge Iron Pvt. Ltd for Rs 9.9 crore.

The company is engaged in the production and manufacturing of mild rolled steel products and mild steel ingots.

Last month, the company announced earnings results for the first quarter ended June 2007. For the period, the company announced 8% increase in net profit at Rs. 1.09 crore. The sales declined by 9% to Rs 121 crore.