Shares of BMW Industries Ltd rose another 2.09% to ₹47.89 on Tuesday, March 26, building on Monday’s sharp 10% rally. The gains came after the company announced it had signed a Memorandum of Understanding (MoU) with the Ministry of Steel, Government of India, under the Production Linked Incentive (PLI) Scheme 1.1 for speciality steel.
In a stock exchange filing, the company confirmed that the MoU was signed on March 24, 2025, at Vigyan Bhawan, New Delhi. Under this agreement, BMW Industries will produce a range of speciality steel products, including Coated/Plated Steel Products of Metallic/Non-Metallic Alloy and Al-Zn Coated (Galvalume) products. These will be manufactured at its upcoming Greenfield Downstream Steel Complex in Bokaro, Jharkhand.
The company is a qualified beneficiary under the PLI scheme and plans to significantly expand its manufacturing footprint to cater to both domestic and international markets.
Managing Director Harsh Bansal called the agreement a “significant milestone” in enhancing the company’s downstream steel capabilities, reinforcing its commitment to ‘Make in India’ and ‘Atmanirbhar Bharat’ goals.
As of 10:54 AM, the stock traded in a range of ₹47.28 to ₹48.64. BMW Industries’ market capitalization stood at ₹10.78 billion, with a P/E ratio of 14.17 and a dividend yield of 0.90%.
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