Shyam Metalics and Energy inches up on planning to invest Rs 850 crore in FY22
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Shyam Metalics and Energy is currently trading at Rs. 369.10, up by 0.30 points or 0.08% from its previous closing of Rs. 368.80 on the BSE.
The scrip opened at Rs. 375.00 and has touched a high and low of Rs. 376.80 and Rs. 369.65 respectively. So far 29895 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 461.15 on 20-Jul-2021 and a 52 week low of Rs. 360.95 on 30-Jun-2021.
Last one week high and low of the scrip stood at Rs. 387.80 and Rs. 362.50 respectively. The current market cap of the company is Rs. 9522.16 crore.
The promoters holding in the company stood at 88.35%, while Institutions and Non-Institutions held 4.63% and 7.02% respectively.
Shyam Metalics and Energy is planning to invest Rs 850 crore in the current fiscal (FY22) as part of its Rs 2,960-crore capital expenditure plan to double its steel-making capacity and foray into the aluminium foil sector.
The company is foraying into manufacturing of aluminium foil for the packaging industry with Rs 300 crore capital expenditure (capex). The company will increase its integrated production capacity from the existing 5.71 mtpa to 11.54 mtpa. This includes enhancement of value-added long steel capacity to 2 mtpa from 0.89 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.
