Shares of Kalyani Steels (KSL) hit a new high of Rs 623.75, zooming 20 per cent on the BSE in Thursday’s intra-day trade backed by heavy volumes on acquisition of assets of Kamineni Steel & Power for a cash consideration of Rs 450 crore. In past two trading days, the stock has rallied 24 per cent. Since April, thus far in the financial year2023-24, the stock has appreciated 111 per cent.
In an exchange filing KSL on Wednesday after market hours informed that the company was declared as a successful bidder for acquisition of assets of Kamineni Steel & Power India Private Limited (In Liquidation).
