Steel Exchange India surges on receiving MES renewed approval to supply TMT bars
Steel Exchange India is currently trading at Rs. 10.25, up by 0.24 points or 2.40% from its previous closing of Rs. 10.01 on the BSE.
The scrip opened at Rs. 10.01 and has touched a high and low of Rs. 10.56 and Rs. 10.00 respectively. So far 295736 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 11.54 on 30-Jul-2025 and a 52 week low of Rs. 6.97 on 23-Mar-2026.
Last one week high and low of the scrip stood at Rs. 10.85 and Rs. 7.46 respectively. The current market cap of the company is Rs. 1301.03 crore.
The promoters holding in the company stood at 50.80%, while Institutions and Non-Institutions held 3.13% and 46.07% respectively.
Steel Exchange India has received renewal of approval from the Military Engineer Services (MES), under the Ministry of Defence, for the supply of its TMT bars. This approval pertains to the manufacturing of TMT bars under the brand SIMHADRI TMT, of grades Fe 500D and Fe 500D HCRM, in the size range of 8 mm to 32 mm, produced at the company’s integrated steel plant located at Sriram Puram, Vizianagaram, Andhra Pradesh, using TEMPCORE technology.
The said renewal enables the company to continue manufacturing and supply of TMT Bars in accordance with applicable standards and regulatory requirements. This renewal reflects its consistent focus on quality and disciplined execution, which are critical for institutional supply. It reinforces its position in a segment characterized by stringent standards and high entry barriers. It sees this as an important step in sustaining its participation in MES projects and strengthening its presence in government and infrastructure-linked segments.
