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Steel stock under ₹50 jumps 8% after signs MoU with the Ministry of Steel under PLI for specialty steel

Prominent steel manufacturer signed an MoU with the Ministry of Steel under the PLI Scheme to enhance domestic production of advanced coated and plated steel products in Bokaro, Jharkhand.
Steel stock under ₹50 jumps 8% after signs MoU with the Ministry of Steel under PLI for specialty steel
Steel stock under ₹50 surges 8% after MoU with Ministry of Steel under PLI scheme.

Introduction:

Leading steel manufacturer has signed an MoU with the Ministry of Steel under the PLI Scheme 1.1 for Specialty Steel, aiming to boost domestic production with advanced coated and plated steel products at its upcoming facility in Bokaro, Jharkhand.

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Share price movement of BMW Industries:

On March 25, 2025, BMW Industries Ltd opened at ₹46.90, rising 7.48% from its previous close of ₹45.03. The stock hit a high of ₹49.51 (8.02%) and a low of ₹46.20. By 12:55 PM, it traded at ₹48.40, with a market cap of ₹1,089.42 crore.

BMW Industries Signs MoU with Ministry of Steel Under PLI Scheme:

BMW Industries Limited (BMWIL) has signed a Memorandum of Understanding (MoU) with the Ministry of Steel. It is under the Production Linked Incentive (PLI) Scheme 1.1 for Specialty Steel. The agreement was formalized on March 24, 2025, at Vigyan Bhawan, New Delhi.

BMWIL will manufacture coated and plated steel products, including metallic and non-metallic alloys, along with Al-Zn coated (Galvalume) products. These will be produced at the company’s upcoming Greenfield Downstream Steel Complex in Bokaro, Jharkhand.

This move aligns with India’s goal of boosting domestic steel production and reducing imports. BMWIL aims to enhance its capabilities in the specialty steel sector and expand its market presence With the government’s PLI scheme.

Recent news on BMW Industries:

As of March 20, 2025, BMW Industries Ltd approved a ₹803.47 crore capex for a greenfield downstream steel complex in Bokaro, Jharkhand, boosting production capacity for cold rolled, galvanized, and color-coated steel products.

Stock performance of BMW Industries for Period of 1 week, 6 months, and 1 year:

BMW Industries Ltd delivered a 4.99% return over the past week but declined by 34.4% in the past six months. The stock has dropped 22.8% over the past year.

Also Read: Defence stock jumps after receiving order from German companies for delivery of multi-purpose vessels

Shareholding pattern of BMW Industries:

ParticularsDec 2024Sep 2024Jun 2024
Promoter74.40%74.30%74%
FII0%0%0%
DII0%0%0%
Public25.60%25.70%26.00%

About BMW Industries:

BMW Industries Ltd (NSE: BMW) specializes in manufacturing, processing, and selling steel products, including engineering solutions and related services, catering to diverse industrial needs with a strong focus on quality and innovation.

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.

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