Categories: News

Mughal Steel completes acquisition of Mughal Energy Limited

In a notification sent to the PSX on 30/11/2023, Mughal Iron & Steel Industries Limited (MUGHAL) announced that it had successfully completed the acquisition transaction of Mughal Energy Limited(MEL).

With the completion of this transaction, MEL is now a wholly-owned subsidiary of MUGHAL. The work on the new plant has already started and the project is expected to be completed within 18 months.

MUGHAL shares were trading at Rs. 66.5 during trading hours earlier today.

Jabran Kundi

Jabran Kundi is the leader of the KSEStocks team. He is currently a regular contributor on Insider Monkey and Yahoo Finance, covering the US stock market. As a bilingual stock market enthusiast, Jabran has also worked extensively covering the German and UK stock markets. Lately, he has been focused on the Pakistan Stock Exchange, which is where he envisioned the creation of this platform.

Recent Posts

LCC Korea to sell 75.01% stake in Lotte Chemical Pakistan

On 20-02-2025, Lotte Chemical Pakistan Limited (LOTCHEM) disclosed the following material information.

1 day ago

Netsol stock on a temporary hiatus, but a fresh rally awaits

On the monthly time frame, Netsol has a history of boom and bust cycles

1 day ago

OGDC: The People’s Choice for All-Time Stock

OIL & GAS EXPLORATION COMPANIES (OGDC) have made good corrections but it is still in…

2 days ago

LCC Korea to divest 75.01% stake in Lotte Chemical Pakistan

The Board of Directors of Lotte Chemical Corporation, South Korea (LCC Korea), the majority (75.01%)…

2 days ago

GGGL suspends furnace operations for maintenance until May 15, 2025

After the completion of the expected life of the furnace, Ghani Global Glass Limited (GGGL)…

2 days ago

Pakistan State Oil (PSO) from Grounded to Greatness

Pakistan State Oil (PSO) is trying to sustain above 300 level.

2 days ago