VSSL join hands with Toyota's Global Supply Chain to start mass production of steel

Vardhman Special Steels Limited (BSE: 534392. NSE: VSSL), has started mass production of steel for forging companies of Aichi Steel Corporation based in South East Asia for some of the grades for which it has received the approvals. The sales of these products for FY 2023-24 will be 10000 MT approx. It will further increase with the receipt of more approvals in next 2-3 years.

Commenting on this development, Mr Sachit Jain, Vice Chairman & Managing Director, Vardhman Special Steels Ltd. said, "This is a historic moment for VSSL as we have started mass production of steel for Toyota. This will establish VSSL and India as a supplier of high-quality automotive steel. This is one of the biggest landmark event in the history of VSSL and a matter of great pride for our country."

Shares of Vardhman Special Steels Limited was last trading in BSE at Rs. 344.30 as compared to the previous close of Rs. 335.25. The total number of shares traded during the day was 7466 in over 579 trades.

The stock hit an intraday high of Rs. 351.15 and intraday low of 334.60. The net turnover during the day was Rs. 2570892.00.

Source : Equity Bulls

Keywords

VardhmanSpecialSteels INE050M01012 VSSL MassProduction AichiSteelCorporation