Shares of Vraj Iron and Steel surged nearly 5% on December 24 after the company announced the successful commencement of commercial operations at its sponge iron plant in Bilaspur, Chhattisgarh. At 9:43 AM, the stock was trading 3.57% higher at ₹230.49 on the NSE.
Key Announcement:
- New Operations: The company successfully began commercial operations of its sponge iron plant on December 23, 2024. The facility is part of its expansion project located in Village Dighoia, near Bilha Mode, Tehsil-Takhatpur, Bilaspur, Chhattisgarh.
- Power Plant Update: In an exchange filing, Vraj Iron and Steel revealed that the commissioning of power plant equipment has started, with plans to achieve commercial production in the next quarter. Detailed updates on the power plant’s progress will be shared later.
Stock Performance:
Vraj Iron and Steel’s stock has gained significant attention, reflecting optimism surrounding the expansion and operational advancements.
This development strengthens the company’s operational capabilities, boosting its position in the iron and steel sector. Let me know if you’d like further refinements!
