Introduction:
Leading metals and energy firm is set to diversify into Mines Development and Operations (MDO), aiming to optimize costs, enhance profitability, and establish a competitive edge through sustainable mining practices and efficient resource utilization.
Also Read: Auto stock in focus after company to install 600 public EV fast charging stations across the country
Share price movement of Lloyds Metals:
On December 9, 2024, Lloyds Metals and Energy Ltd opened at ₹1,059.85, up 0.85% from its previous close of ₹1,050.95. The stock hit a high of ₹1,099.10 (4.58%) and a low of ₹1,052.95. By 3:04 PM, it traded at ₹1,099.10, marking a 4.58% increase, with a market cap of ₹57,462.23 crore.
Lloyds Metals Expands Operations with New Mining Venture:
Mumbai-based Lloyds Metals and Energy Limited announced its entry into Mines Development and Operations (MDO) at a board meeting held on December 9, 2024. This strategic diversification aims to strengthen its integrated steel business by optimizing input costs.
The company will explore opportunities in the MDO segment, focusing on mineral extraction and resource development. This move is expected to reduce costs, improve supply chain efficiency, and enhance profitability, positioning Lloyds Metals as a competitive player in the mining sector.
Investment details remain variable, contingent on operational scale, research, equipment, and regulatory needs. The company emphasized its commitment to sustainable mining practices and a long-term vision for growth and resource utilization within the metals and mining industry.
Recent news on Lloyds Metals:
As of October 25, 2024, Lloyds Metals reported positive Q2 FY25 results with increased cash revenues, net sales, and profit after tax. However, concerns remain over the high debt-to-equity ratio and decreased gross profit margin, highlighting potential financial risks.
Stock performance of Lloyds Metals for Period of 1 week, 6 months and 1 year:
Lloyds Metals and Energy Ltd. has shown strong performance, with a 0.05% return over the past week, a 45.0% return over the last six months, and an impressive 71.6% return over the past year, reflecting significant growth.
Also Read: Insurance stock falls 5% after it receives notice from IRDA for violations
Shareholding pattern of Lloyds Metals:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 63.50% | 65.70% | 65.70% |
| FII | 2.00% | 1.10% | 0.70% |
| DII | 1.30% | 0.10% | 0.10% |
| Public | 33.30% | 33.10% | 33.50% |
About Lloyds Metals:
Lloyds Metals & Energy Ltd. (NSE: LLOYDSME) was established in 1977 and operates in iron ore mining, sponge iron manufacturing, and power generation. The company is expanding its sponge iron plant and pursuing iron ore mining for cost optimization.
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.
