Lloyds Metals and Energy Ltd approves expansion project

The Board of Directors of Lloyds Metals and Energy Limited was held today i.e., Monday, 22nd January, 2024 at 11:30 A.M. at A-2, 2nd Floor, Madhu Estate, Pandurang Budhkar Marg, Lower Parel, Mumbai - 400013, have considered and approved erection of the 1 X 4 Million per annum Pellet Plant and Slurry Pipeline at Ghugus, District Chandrapur.

The investment of Rs. 2,250 Crores for the above project will be raised through internal accruals.

The rationale for the expansion project is in line with the strategy of being present in complete value chain of steel making, Efficient utilization of iron ore reserves and Value addition / forward integration of its existing sponge iron facilities.

Shares of LLOYDS METALS AND ENERGY LTD. was last trading in BSE at Rs. 592.60 as compared to the previous close of Rs. 579.55. The total number of shares traded during the day was 12477 in over 676 trades.

The stock hit an intraday high of Rs. 594.70 and intraday low of 586.60. The net turnover during the day was Rs. 7372944.00.

Source : Equity Bulls

Keywords

LLOYDSMETALSANDENERGY INE281B01032 ExpansionProject PelletPlant SlurryPipeline