Shyam Metalics engages Growlity Inc. for ESG diagnostic Study

Shyam Metalics and Energy Limited (SMEL), a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys, has appointed Growlity Inc., management consultants for a comprehensive diagnostic study on SMEL's Environmental, Social & Governance (ESG) fundamentals, implementation ESG framework & compliance thereof.

In Phase 1 of the diagnostic study, Growlity will carry out a detailed study of SMEL's process flow at Jamuria & Sambalpur plants. They will then map out the current carbon, water & waste footprints at both plants and assess the impact of carbon emissions.

Commenting on the development, Mr Brij Bhushan Agarwal, VC & Managing Director said "In our move towards sustainable growth and value creation, ESG framework will certainly provide an opportunity to develop and maintain a culture of business sustainability, consistent and material to our stakeholders i.e investors, customers, employees and communities etc. Parallel to our ongoing drive towards sustainable growth, we are also determined to safeguard our environment and contribute to uplift our society while generating value".

Shares of Shyam Metalics and Energy Limited was last trading in BSE at Rs. 331.90 as compared to the previous close of Rs. 322.55. The total number of shares traded during the day was 52492 in over 2512 trades.

The stock hit an intraday high of Rs. 336.00 and intraday low of 315.50. The net turnover during the day was Rs. 17322454.00.

Source : Equity Bulls

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ShyamMetalicsandEnergy GrowlityInc ESG DiagnosticStudy