Who wrote this article?

Aakash Agarwal, Capitalmind's research team.

Union Bank of India increases stake in Bharat Wire Ropes to 5.34%

8 Jun 2016Aakash Agarwal1 min read

Quick Facts

What is "Union Bank of India increases stake in Bharat Wire Ropes to 5.34%" about?
What category is this article in?: Stocks
Who wrote this article?: Aakash Agarwal, Capitalmind's research team.
When was this article published?: Published 8 June 2016.
How long does this article take to read?: 1 min read
What topics does this article cover?: UNIONBANK
What does the "Disclaimer" section say?: Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.

BWR Logo

Bharat Wire Ropes is a speciality wire ropes manufacturing company. It manufactures Strands, Wire Ropes and Slings for use in a varied list of application / industries such as General Engineering, Fishing, Elevators, Cranes, Material Handling, Onshore / Offshore Oil Exploration, Ports and Shipping and Mining.

The company also has a diverse product mix which includes Mechanically Spliced Slings, Hand Spliced Slings, Earth Wires, Stay Wires, Guy Wires and Spiral Strands.

They have recently been awarded with two Rate Contracts from the Shipping Corporation of India - Two years Rate contract with the sole option of 2 extensions of three months each, at same rate, terms and conditions for Supply of different types of G.S. Wire Ropes and MMD Approved G.S. Wire Ropes.

UBILOGO2

Union Bank of India which held 2,050,121 shares representing 4.56% of the share capital as on 31-Mar-16, purchased an additional 349,651 shares representing 0.78% worth 1.57 Cr.

This brings its increased holding to 2,399,772 shares or 5.34%.

divider

Disclaimer

Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.