Gallantt Ispat hits record high on capex plan; stock zooms 47% in 1 month

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Gallantt Ispat hits record high on capex plan; stock zooms 47% in 1 month - Business Standard

Quick Summary:

The company's board approved expansion in the capacities of various manufacturing units of the company situated at Gorakhpur, Uttar Pradesh.

The government’s initiatives, such as the National Steel Policy and ‘Make in India’ campaign aim to enhance the competitiveness of the Indian steel sector and achieve self-sufficiency in steel production, the company said.

The company’s strong order book, with a customer mix of both government departments and private sector enterprises, ensures robust growth in coming years, the management said in its FY24 annual report.