India's BMW Industries rises on 8 billion rupee capex plan

BMW Industries

20/03/2025 06:08

** India's steel maker BMW Industries BMWI.BO jumps as much as 9% to 48 rupees, last up 5.5%

** Stock on course for fourth straight session of gains

** Board approves 8.03 billion rupees ($93 million) capex for a greenfield downstream steel complex in Jharkhand state's Bokaro

** New steel complex to produce cold-rolled full hard coil, galvanized coil, and colour-coated coils or sheets

** Project expected to become operational in stages over the next two years, to facilitate access to global markets, says company

**BMWI down 10.4% YTD

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))