India's Vardhman Special Steels surges to best day in 8 years on new plant plan

Vardhman Special Steels

23/04/2025 09:06

** Vardhman Special Steels VARM.NS surges an exchange-allowed maximum of 20% to 248.9 rupees

** Stock set for biggest one-day pct gain since April 2017, with trading volume 4x the 30-day daily avg
** Alloy steel maker to set up new plant that it says will help lower steelmaking costs, expand product line

** Planned capacity of 500,000 MT per annum of billet production with capex of 20 bln rupees ($234 mln)

** VARM extends YTD gains to ~10%

 ($1 = 85.4725 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))