Steel stock jumps 4% after announcing capex worth ₹1,015 Cr for expansion of captive solar power plantSteel stock jumps 4% after announcing capex worth ₹1,015 Cr for expansion of captive solar power plant

Introduction:

Leading steel manufacturer has approved a ₹1,014.98 crore expansion plan, which includes increasing production capacity across multiple units and setting up a captive solar power plant, with completion targeted by March 2026.

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Share price movement of Gallantt Ispat:

On April 16, 2025, Gallantt Ispat Ltd opened at ₹471.30, up 4.96% from its previous close of ₹449.05. The stock touched a high of ₹471.30 (4.96%) and a low of ₹451.60. By 1:40 PM, it traded at ₹455.75, a 1.49% gain, with a market cap of ₹10,996.38 crore.

Gallantt Ispat Approves ₹1,015 Crore Expansion Plan:

Gallantt Ispat Limited’s Board of Directors approved a ₹1,014.98 crore capital expenditure plan for the expansion of its Integrated Steel Plants at Gorakhpur. This includes capacity increases in steel billets, rolling mill, and other units.

The expansion plan also includes setting up a 22 MW captive solar power plant to enhance sustainability. The project is part of a brownfield expansion and will be completed by March 2026.

The entire expansion will be funded through the company’s internal accruals, with no debt financing. The approved expansion aims to boost production capacity significantly over the next few years.

Stock performance of Gallantt Ispat for Period of 1 week, 6 months, and 1 year:

Gallantt Ispat Ltd delivered a 13.0% return over the past week, it gained 24.4% in the past six months. The stock rose 95.8% over the past year.

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Shareholding pattern of Gallantt Ispat:

Particulars	Dec 2024	Sep 2024	Jun 2024
Promoter	68.90%	68.90%	68.90%
FII	0.10%	0.10%	0.20%
DII	0%	0%	0%
Public	31.00%	31.00%	30.90%

About Gallantt Ispat:

Gallantt Ispat Ltd. (NSE: GALLANTT) is a prominent Iron and Steel manufacturer based in Eastern Uttar Pradesh, engaged in Iron & Steel, Agro, Power, and Real Estate businesses since 2005.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.