Shyam Metalics and Energy’s shares rose more than 5% this week as the company began Phase I of the greenfield Cold Rolling Mill at its Jamuria plant in West Bengal. This strategic move demonstrates the company’s commitment to expanding its product offerings and presence in both domestic and international markets.
The plant began its trial run under Shyam Metalics Flat Product Pvt. Ltd., a wholly owned step-down subsidiary of SMEL.
In the exchange filing, the company also said, “With a total capacity of 400,000 tons annually, the new Cold Rolling Mill is a cutting-edge establishment. The project has a total capital cost of ₹603 crores, with ₹346 crores invested and ₹257 crores pending. The mill will specialize in producing pre-painted galvalume coils (PPGL) and coils of galvanized iron/galvanized steel (GI/GL). With this expansion, Shyam Metalics will be able to produce steel products of the highest caliber and further strengthen its integrated steel manufacturing capabilities.”
Stock Performance on Friday
– Open: ₹882.00
– High: ₹932.75
– Low: ₹867.00
