Shares of Lloyds Metals and Energy Limited (LMEL) gained over 2% on March 21 after the company announced that it has secured Environmental Clearance (EC) from the Ministry of Environment, Forest, and Climate Change, Government of India. This approval, granted on March 20, 2025, allows the company to proceed with its 1.2 MTPA Wire Rod Project and 4.0 MTPA Pellet Plant Project at Ghugus, Chandrapur, Maharashtra.
As of 9:40 am the shares were trading 2.20% higher at ₹1,284.55 on NSE.
In its exchange filing, LMEL stated:
“In furtherance to our intimations dated October 23, 2023, and January 22, 2024, we would like to inform that we have been granted Environmental Clearance by the Ministry of Environment, Forest, and Climate Change, Government of India (IA Division) on March 20, 2025, for the upcoming 1.2 MTPA Wire Rod Project and 4.0 MTPA Pellet Plant Project at Ghugus, District Chandrapur, Maharashtra.”
This milestone marks a significant step in LMEL’s expansion strategy, reinforcing its commitment to sustainable growth in the steel and energy sector. The clearance ensures compliance with environmental regulations, enabling the company to increase its production capacity and further strengthen its industry presence.
With this approval in place, LMEL is poised to move forward with its key projects, driving economic growth and job creation in the region. The announcement has been well received by investors, contributing to the stock’s positive movement in the market today.
