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Steel Exchange India Gets Regulatory Nod for TMT Bars Supply in Amaravati Projects; Shares Jump 6%

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Steel Exchange India (NSE:STEELXIND, BOM:534748) said it has received approval from the Andhra Pradesh Capital Region Development Authority (APCRDA) for use of its SIMHADRI TMT (Thermo-Mechanically Treated) steel bar, in Amaravati capital city projects, according to a Monday filing on Indian exchanges.

The approved products include Fe500D, Fe550, Fe550D and Fe550D CRS grades for use in ongoing and upcoming construction works under APCRDA, the filing said.

Shares of the company jumped nearly 6% in recent trade.

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