India's Shyam Metalics and Energy rise on upbeat Nov sales

Shyam Metalics and Energy

05/12/2023 09:20

** Shares of Indian metal producer Shyam Metalics and Energy
 SHYE.NS  up as much as 4.19% at 490 rupees, highest level since
Sept. 6
    ** Sale volumes in all segments rise y/y except steel
billets, long steel, and ferroalloys 
    ** Sponge iron segment surges ~188% y/y in Nov, while steel
- co's biggest segment by volumes - grew 26.6%  
   
    ** More than 1.5 mln shares changed hands by 2:27 p.m. IST,
2.7x 30-day avg 
    ** Stock last up 2%, taking YTD gains to ~53%

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Shyam Metalics and Energy: November sales performance    https://tmsnrt.rs/3R70LXF
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 (Reporting by Hritam Mukherjee and Bharath Rajeswaran in
Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))