Shyam Metalics & Energy Ltd.

The company invested Rs 600 crore for the project and it aims to expand production capabilities to meet the growing demand for high-quality steel products across various industries.

he company's plant in Jamuria, WB, is being built at a total capital cost of Rs 603 crore, with Rs 346 crore invested and Rs 257 crore yet to be invested

The stock price climbed after the company's management informed investors about its growth plans in its businesses of aluminium and stainless-steel products

UBS reckons the market is not fully appreciating Shyam Metalics' integrated operations

Shyam Metalics & Energy Ltd (SMEL) on Saturday reported more than fourfold jump in its consolidated profit after tax (PAT) to Rs 481.97 crore in the July-September quarter of 2023-24 despite a fall in revenue. It had clocked Rs 110.91 crore PAT during the July-September period of the preceding 2022-23 fiscal, the company said in a statement on Saturday. The company's consolidated revenues dropped by 4.7 per cent to Rs 2,940.70 crore for the second quarter of FY2023-24 as compared to Rs 3,085.20 crore in the same quarter a year ago. Despite the realisation of finished steel being down by 11.75 per cent on a year-on-year basis, the company has been able to maintain revenue growth, the statement said. The company has also received the order from NCLT Bench for the acquisition of Mittal Corp Limited along with the order of approval for merger of Mittal Corp Limited with Shyam Sel and Power Limited, a wholly-owned subsidiary of the company, it said. There has been sustained growth in .

City-based Shyam Metalics and Energy Limited on Monday announced its entry to battery-grade aluminum foil, a critical component in lithium-ion cells, anticipating growing demand from Indian companies foraying into the new-age batteries. The company is a producer and exporter of aluminum foil for various industrial applications with an annual production capacity of 20,000 tonnes per annum. The company officials, however, did not elaborate on the capacity that would be catered to the battery segment or mention any capital expenditure for foraying into lithium-ion cell grade aluminium foil. Shyam Metalics in a statement said for the production of 1GWh (Gigawatt-hour) of LFP (Lithium Iron Phosphate) cells, which power a wide variety of electric vehicles and energy storage systems, 350 tons of high purity and uniform-thickness aluminum foil is required that acts as a positive (cathode) current collector. The demand for aluminum foil doubles for sodium-ion batteries, where both positive

The stock has rallied nearly 77 per cent so far this fiscal year as against a 12 per cent rally on the benchmark Nifty 50.

Company preps up expansion plan after acquiring Mittal Corp through the insolvency process

CLOSING BELL: The Pharma index advanced over 2 per cent today as diagnostics and healthcare firms climbed amid rising Covid-19 cases globally

On Tuesday, SMEL announced their third acquisition of Mittal Corp with a foray into the stainless steel (SS) / wire rod & bar mill business.

Shyam Metalics and Energy Ltd on Tuesday said it has forayed into the stainless steel business by acquiring Mittal Corp Ltd in an NCLT-led resolution process. The company will invest about Rs 7,500 crore over the next 4-5 years to scale up its metal business, Shyam Metalics vice-chairman and managing director Brij Bhusan Agarwal said. "Mittal Corp's acquisition cost is about Rs 450 crore, and we outbid Jindal Stainless, the competitor for the sick asset put under the NCLT resolution process. The acquisition will enable us to foray into stainless steel and special products, such as defence materials," he said. To meet market regulator SEBI's norm, the promoters need to dilute their current holding of 88 per cent in Shyam Metalics by at least 13 per cent within the next 18 months, Agarwal said. The process of dilution will depend on the market situation but is likely to begin in the next 6-9 months. The company said that stake dilution will be from a combination of a fresh equity is

JK Tyre & Industries, on Wednesday, said it has widened its original equipment manufacturer (OEM) supply to Hyundai Motor India

For those who didn't get the IPO allotment, analysts say the business model, industry outlook, management acumen and valuations of these companies should be kept in mind before investing

The stock rallied to Rs 399, up 30 per cent from its issue price, in intra-day deals on the BSE

Market was expecting Sona to list at a muted premium and hoped Shyam Metalics would gain more than 30% on listing