6 stories mentioning NSE:SHYAMMETLUpdated 25m ago
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Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) has an average rating of buy and mean price target of 1,065.33 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) reported 5.3% higher stainless steel volumes in May to 7,367 tonnes from 6,999 tonnes a year ago, according to a Friday filing with the Indian bourses.Stainless steel realization jumped over 32% year on year to 181,356 Indian rupees per tonne from 137,296 rupees per tonne, the filing said.Aluminium foil volumes fell nearly 25% to 1,570 tonnes, while realization grew nearly 35% to 495,275 rupees.Pellet sales declined around 12% to 112,004 tonnes, though realization rose over 5%. Speciality alloys sales volume dropped nearly 19% to 16,201 tonnes, but realization increased about 27% to 108,050 rupees, the filing said.
Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) has an average rating of buy and mean price target of 1,051.62 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Metals manufacturer Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) has earmarked an additional investment plan of 27 billion Indian rupees for expansion activities, according to a Wednesday filing to the Indian stock exchanges.The investment is aimed at expanding higher-margin product offerings to help revenue growth and will be funded entirely through internal accruals.The plan includes a 9 billion rupees investment in an 800,000 TPA special bar quality and specialty wire rod and bar mill, along with 18 billion rupees to expand stainless steel capacity.The multi-faceted investment program is targeted for commissioning by 2029.This investment is in addition to the earlier declared 160.6 billion rupees capex, of which around 87 billion rupees have already been invested. The remaining amount is expected to be executed over the next three to four years.The company's shares were up nearly 3% in recent trade.
Smel Steel Structural, a step-down subsidiary of Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) is poised to begin commercial production at its aluminium manufacturing project in Sambalpur, Odisha in India, according to a Thursday filing to the Indian bourses.The facility will produce aluminium flat rolled products with an installed capacity of 60,000 tons per annum (TPA), in the thickness range of 0.3 - 4.0 mm, and aluminium foils with a capacity of 18,000 TPA, in the thickness range of 6 - 40microns.Sambalpur unit, when commissioned, is expected to significantly enhance the company's financial and operational performance. The company estimated a 40-50% improvement in operating margins driven by better product mix and enhanced efficiencies.Its revenue is also expeected to increase by 2x to 2.5x over the medium term, supported by expanded market reach and higher realization products.The company's shares were up 3% in recent trade.
Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) said it has commissioned Phase II of its cold rolling mill (CRM) facility at Jamuria in West Bengal, India, according to an Indian bourse filing on Friday.The facility, operated by the company's wholly owned subsidiary Shyam Sel and Power, began commercial production on April 16, the filing said.With this, the total CRM capacity has increased to 0.40 million tons per annum, it added.
