Shares of Lloyds Metals and Energy Limited (LMEL) surged by over 3%, hitting a 52-week high on the back of its strong operational performance in H1FY25. The company recently reported robust growth in production, boosting investor confidence.
Key Reasons for Surge:
- DRI Production Growth: LMEL’s Direct Reduced Iron (DRI) production reached 1,61,672 tonnes, reflecting a significant 41% year-on-year (YoY) growth compared to H1FY24. The increased production is driven by its newly commissioned 70,000-tonne DRI facility at Konsari, operating at full capacity.
- Iron Ore Production Milestone: The company achieved its highest-ever half-yearly iron ore production, recording 5.9 million tonnes, up 4% YoY. This milestone reinforces LMEL’s position as the largest merchant iron ore miner in Maharashtra.
The strong operational performance, including growth in DRI and iron ore production, has led to a positive market response, with the stock rallying to new heights. LMEL’s strategic focus on sustainable mining and expanding capacity has also contributed to the bullish outlook on its stock.
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