Lloyds Metals shares surged more than 2% to reach a new 52-week high of ₹1,475 after DAM Capital initiated coverage with a Buy rating and a target price of ₹1,905. As of 11:18 AM, the shares were trading 2.59% higher at Rs 1,473.00.
Key Highlights:
- Expanding Operations: Lloyds Metals has an iron ore mining capacity of 10 MT, with plans to ramp up to 25 MT by Q4 FY25.
- Value Chain Expansion: The company is enhancing its steel production capabilities, including a 1.2 MT wire rod mill, a 3 MT hot-rolled coil (HRC) plant, and a 12 MT pellet plant.
- Existing Capacity: The company already operates a 0.35 MT DRI (Direct Reduced Iron) facility and a 34 MW captive power plant.
- EBITDA Growth: Lloyds Metals is poised for a strong EBITDA growth, projected to increase at a 91% CAGR from FY25 to FY27, driven by higher ore production and a more profitable product mix.
Lloyds Metals shares opened at ₹1,435.00, reaching a high of ₹1,475.00 and a low of ₹1,418.00 during the trading session. The stock’s 52-week high stands at ₹1,475.00, while the 52-week low is ₹525.90.
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