The state PCB in last November had directed closure of the blast furnace till further order, following an explosion that happened in the slag pit during the fourth day of trial run on November 10.
Bhushan Steel today said it has got the green signal to start a blast furnace in Meramandali plant from the Odisha Pollution Control Board (PCB) which had directed its closure following an accident during trial run.
"The company has now received all consents and approvals from the State Pollution Control Board, Odisha, for starting and operating the blast furnace No 2 installed at its steel plant," Bhushan Steel said in a BSE filing.
The state PCB in last November had directed closure of the blast furnace till further order, following an explosion that happened in the slag pit during the fourth day of trial run on November 10.
The accident at the plant caused deaths and injuries. "The company has started the process of operation of blast furnace No 2 and the production from the furnace is expected to start in few weeks," Bhushan Steel said.
Bhushan stock price
On April 23, 2014, Bhushan Steel closed at Rs 446.75, up Rs 0.25, or 0.06 percent. The 52-week high of the share was Rs 504.00 and the 52-week low was Rs 437.30.
The company's trailing 12-month (TTM) EPS was at Rs 15.97 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 27.97. The latest book value of the company is Rs 395.02 per share. At current value, the price-to-book value of the company is 1.13.
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