India's Shyam Metalics jumps on expansion into stainless steel flat products

Shyam Metalics and Energy

10/04/2024 05:18

** Shares of Shyam Metalics and Energy  SHYE.NS  rise as
much as 6.4% to 658.9 rupees, logs sharpest intraday pct gain
since Dec. 22
    ** SHYE hits highest level since March 5
    ** The metal producer on Tuesday announced expansion into
stainless steel flat products  
    ** New facility in Odisha to specialize in producing 200 and
400 series stainless steel hot rolled coils 
    ** Volumes over 1.1X the 30-day avg by 09:30 a.m. IST
    ** Stock up about 8% so far in April after logging two
straight monthly declines 

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))