The shares of Gallantt Ispat Ltd, a leading TMT bar manufacturer, surged by 5% to reach ₹333.25 per share after the company secured a bid for an iron ore block in Rajasthan. The company was declared the successful bidder for the Todupura Iron Ore Block in the Karauli District, Rajasthan, offering the highest final price of 175.05% through an e-auction portal.
With geological data showing a substantial iron ore deposit in the investigated area, Gallantt Ispat Ltd is set to expand its operations and strengthen its position in the industry. The company’s revenue in the previous fiscal year grew by 4.7%, reaching ₹4,227 crore, while net profit surged by 59% to ₹225 crore.
Furthermore, Gallantt Ispat Ltd’s shares have seen a significant increase in value, soaring by 193% in the past six months and 469% over the last 12 months. The company’s integrated steel plant in Gorakhpur, U.P, along with its various business operations in Iron & Steel, Agro, Power, and Real Estate, positions it as a key player in the industry.
Investors are closely watching Gallantt Ispat Ltd as it continues to strengthen its foothold in the market with strategic acquisitions and operational expansions. The company’s sound financial performance and growth prospects make it an attractive investment opportunity for those looking to capitalize on the evolving landscape of the iron and steel industry.
