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Shyam Metalics And Energy is currently trading at Rs. 870.30, up by 31.70 points or 3.78% from its previous closing of Rs. 838.60 on the BSE.

The scrip opened at Rs. 855.40 and has touched a high and low of Rs. 875.00 and Rs. 834.80 respectively. So far 11063 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 956.05 on 24-Sep-2024 and a 52 week low of Rs. 433.15 on 06-Nov-2023.

Last one week high and low of the scrip stood at Rs. 875.00 and Rs. 819.25 respectively. The current market cap of the company is Rs. 24291.45 crore.

The promoters holding in the company stood at 74.59%, while Institutions and Non-Institutions held 9.66% and 15.75% respectively.

Shyam Metalics and Energy (SMEL) has commissioned a new blast furnace and launched a sinter plant at its Jamuria facility. With an investment of Rs 600 crore, this significant new development aims to expand production capabilities to meet the growing demand for high-quality steel products across various industries. 

The newly commissioned blast furnace has a capacity of 0.77 million tonnes per annum (MTPA), substantially increasing the plant's production capability. This blast furnace, with a volume of 550 cubic meters, is equipped with three top-fired stoves, modern coal dust injection technology, and a dry gas cleaning plant to optimize the steelmaking process. This enhancement is anticipated to boost steel production by 0.77 MTPA and improve margins by about Rs 700/MTPA.

In addition to the blast furnace, the company also launched a sinter plant with a capacity of 1.11 MTPA, designed to process iron ore fines into a feedstock suitable for the blast furnace. This addition is expected to increase operating efficiency and reduce production costs.

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