Shares Punjab Based Small Cap Steel and Special Alloys Manufacturer Vardhman steel Speciality Ltd hits 20% upper circuit as Company Announced ₹2,000 Crore Capex Plan Post Q4 Results.

In Q4 Company Post Revenue of ₹435 crore which is down from ₹448 Crore last year same period and Company's Net Profit Falls to ₹19 Crore from ₹32 Crore last year same period;Q4 results are weak but market celebrates management announcement on Capex 

The company intend to invest ₹2,000 Crore to build new greenfield steel plant in the punjab and from this plant company likely to increase production capacity to 5,00,000 MT per annum and This Capex amount is almost equal size of company 

This project likely commissioned by 2029-30 and this project will be founded by internal accruals and debt 

Following This announcement Stock Price of Vardhman Steel Hits 20% Upper Circuit at opening shares now locked at ₹248.94 and stock has given negative 5% returns in last one year

Disclaimer:This article is only for information purpose and data collected from company's official website