Introduction:
Leading iron and steel manufacturer has received approval to operate its expanded Sponge Iron and Power Plant in Bilaspur, Chhattisgarh. The expansion will boost production capacity, enhancing efficiency and competitiveness in the market while ensuring regulatory compliance.
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Share price movement of Vraj Iron and Steel:
On December 11, 2024, Vraj Iron and Steel Ltd opened at ₹234.10, up 2.66% from its previous close of ₹228.05. The stock reached a high of ₹250.75 and a low of ₹231.00. By 1:41 PM, it was traded at ₹249.50, a 9.41% increase, with a market cap of ₹804.61 crore.
What’s the news ?:
Vraj Iron and Steel Limited has received consent to operate its Sponge Iron and Power Plant expansion project, situated at Village Dighora, Bilaspur, Chhattisgarh. This approval comes from the Chhattisgarh Environment Conservation Board.
The expansion project aims to increase the production capacity of the plant, which will support the company’s operations in the manufacturing of sponge iron and power generation. This move aligns with strategic focus on enhancing its infrastructure for greater efficiency and market competitiveness.
Vraj Iron and Steel Limited will disclose the details of the consent to operate on its official website. This transparency ensures compliance with the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, keeping stakeholders informed.
Recent news on Vraj Iron and Steel:
As of November 13, 2024, Vraj Iron and Steel reported a 23.9% decline in net sales to ₹87.55 crore for September 2024. Quarterly profit dropped 48.77%, while EBITDA fell by 45.7%, reflecting a challenging period for the company.
Stock performance of Vraj Iron and Steel for Period of 1 week, 6 months and 1 year:
Vraj Iron and Steel Limited has shown a 1.82% return over the past week, indicating a positive short-term performance. However, over the past month, it experienced a slight decline of 1.22%, reflecting some volatility in its recent market performance.
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Shareholding pattern of Vraj Iron and Steel:
| All values in % | Sep 2024 | Jul 2024 |
| Promoter | 75.00% | 75.00% |
| FII | 0.90% | 2.60% |
| DII | 4.50% | 8.10% |
| Public | 19.60% | 14.30% |
About Vraj Iron and Steel:
Vraj Iron & Steel Ltd. (NSE: VRAJ) was incorporated as Phil Ispat Private Limited in 2004. It became a public limited company in November 2023, following a name change from Vraj Iron & Steel Private Limited.
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.
