Integra Essentia Ltd gets Orders amounting INR 120 Million for Supplying Steel Ingots

Integra Essentia Limited has received orders amounting Rs 120 Million approx. for supplying Steel Ingots to prestigious Infrastructural (TOR&TMT) Steel Manufacturers located in North India Region. Integra Essential Limited has been tirelessly working on strengthening its supply chain and lined up the requisite sourcing and servicing these orders from Rourkela, the Steel City of Orissa, the elite hub of feedstock materials for the steel industry and will start the supplies to the buyers instantly which will be completed within the current quarter of FY22-23 itself.

Mr. Vishesh Gupta, Managing Director of the Company while commenting on this development said "We are very pleased to share another update on company's order book. It has been an exhilarating experience for the whole team the way we have witnessed the flow of orders. These back-to-back orders from prestigious clients not only shows efforts being made by the company in right direction but also demonstrate the growing trust our customers are reposing on our capabilities and ability to make timely and efficient deliveries of life essential goods."

Infrastructure sector is a key driver for the Indian economy, it includes bridges, dams, roads, and urban infrastructure development. India is expected to become the world's 3RD largest construction market by 2025 whereas India ranks as the 7TH largest crude steel-producing nation in the world. There is a surge in the industrial, infrastructure and housing sectors, the demand of finished steel products used in construction is high and will hopefully continue to remain buoyant for the next couple of years. The Government of India in order to achieve, support and sustain the targeted $5 trillion GDP target by 2025, has taken major policy initiatives and triggered a number of infrastructure projects to facilitate smooth supply chain of goods that are manufactured by the industries across the country. In the Union Budget 2022-23 The Indian Government has allocated Rs. 10 lakh Crores (US$ 130.57 Billion) to enhance the infrastructure sector Rs. 134,015 Crores (US$ 17.24 Billion) to National Highways Authority of India (NHAI) Rs. 60,000 Crores (US$ 7.72 Billion) for the Ministry of Road Transport and Highways Rs. 76,549 Crores (US$ 9.85 Billion) to the Ministry of Housing and Urban Affairs.

Shares of Integra Essentia Limited was last trading in BSE at Rs. 7.68 as compared to the previous close of Rs. 7.32. The total number of shares traded during the day was 316768 in over 209 trades.

The stock hit an intraday high of Rs. 7.68 and intraday low of 7.51. The net turnover during the day was Rs. 2425392.00.

Source : Equity Bulls

Keywords

IntegraEssentia INE418N01035 Infrastructure OrderWIn SteelIngots NorthIndia SteelManufacturers