Lloyds Metals & Energy Limited (LMEL) stock surged to a 52-week high of ₹1,269 on January 1, 2025, reflecting a 2.53% intraday gain. This rise follows the company’s strong operational performance for the nine months ending December 2024.
Key Highlights:
- Operational Growth:
- Direct Reduced Iron (DRI): Production increased by 22% YoY to 238,000 tonnes for the nine-month period.
- Iron Ore Production: Rose by 5% YoY to 8.6 million tonnes, with December 2024 marking the highest monthly DRI production.
- Stock Performance:
- The stock has gained 18% over the past month, driven by robust production metrics and market confidence.
Company Overview:
Incorporated in 1977, Lloyds Metals is a leading iron ore miner in Maharashtra and a significant producer of Direct Reduced Iron with an annual capacity of 340,000 tonnes. The company also operates a 34 MW waste heat recovery-based power plant, supplying products across Indian markets.
The strong operational performance and production efficiency have bolstered investor sentiment, pushing the stock to its new high.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always consult a financial advisor or refer to official company disclosures for accurate details.
