Lloyds Metals & Energy rises on getting nod for capacity expansion
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Lloyds Metals & Energy is currently trading at Rs. 618.85, up by 4.40 points or 0.72% from its previous closing of Rs. 614.45 on the BSE.
The scrip opened at Rs. 635.15 and has touched a high and low of Rs. 656.05 and Rs. 618.50 respectively. So far 101145 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 687.85 on 09-Aug-2023 and a 52 week low of Rs. 189.00 on 14-Dec-2022.
Last one week high and low of the scrip stood at Rs. 656.05 and Rs. 530.10 respectively. The current market cap of the company is Rs. 31503.56 crore.
The promoters holding in the company stood at 65.75%, while Institutions and Non-Institutions held 0.27% and 33.97% respectively.
Lloyds Metals & Energy has received approval from board of directors for capacity expansion. The company has received approval for expansion of iron ore mining capacity of the Company upto 55 million tonnes Per Annum and establishment of 45 million tonnes per annum Banded Hematite Quartzite (BHQ) Beneficiation plant at Hedri, Gadchiroli district. The Company has already approved Rs 364.28 crore for expansion of its mining capacity (i.e., for its Surjgarh Iron Ore Mine). The board approved establishment of 3 million Tonnes Per Annum Integrated Steel Plant at Konsari, District Gadchiroli.
The board also approved enhancement of the earlier approved 1 X 4 million tonnes per annum pellet plant to 2 X 4 (i.e.,8) million tonnes per annum pellet plant at Konsari, District Gadchiroli. The Board of Directors of the Company at its meeting held on December 08, 2023 approved the same.
Lloyds Metals and Energy is into the business of manufacturing of sponge iron, power generation and mining activities.
