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Shyam Metalics & Energy Surges 2% as it Secures Iron Ore Block License in Maharashtra

Shyam Metalics gains on raising Rs 1,385 crore through QIP, Madhusudan Kela among allottees

Shyam Metalics and Energy concluded its qualified institutional placement (QIP), raising a total of Rs 1,385 crore. Veteran investor Madhusudan Kela, Europe s Societe Generale and Reliance Commercial Finance are among the many allottees.

Just quality won t do, steel companies must cut rates: Experts

Experts believe that despite the March quarter traditionally being the strongest for steelmakers both in terms of demand and margins, they may have to look at moderating prices. "Indian steel mills are scrambling to stem the tide of imports, but their focus on quality alone won t suffice. Price competitiveness is paramount in this market, and a failure to adapt could spell disaster for their bottom lines in FY25," said Vedant Goel, managing director at Neo Mega Steel, a Pune-based steel trader.

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