Shyam Metalics shines on commissioning enhanced captive power, sponge iron capacity

Shyam Metalics And Energy is currently trading at Rs. 352.45, up by 5.30 points or 1.53% from its previous closing of Rs. 347.15 on the BSE.

Shyam Metalics
Shyam Metalics

The scrip opened at Rs. 348.30 and has touched a high and low of Rs. 355.95 and Rs. 348.30 respectively. So far 6560 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 355.95 on 22-Jun-2023 and a 52 week low of Rs. 253.05 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 355.95 and Rs. 335.10 respectively. The current market cap of the company is Rs. 8855.13 crore.

The promoters holding in the company stood at 88.35%, while Institutions and Non-Institutions held 3.79% and 7.86% respectively.

Shyam Metalics and Energy (SMEL) has commissioned production capacities at their manufacturing facility at Jamuria, West Bengal. The capacity of the captive power plant will increase by 90 MW, from 267 MW to 357 MW. The company sources around 75% of its power requirement from the captive plant. The incremental addition will lead to 80% of power sourcing internally, which leads to significant cost savings.

The company has also boosted its Sponge Iron production, commissioning an incremental capacity of 1,65,000 TPA, leading to an enhanced total capacity of around 2.7 MTPA.

Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys.

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