Lloyds Metals Hits 52-Week High After Strong Production Growth

2 Jan 2025 , 09:12 AM

Lloyds Metals & Energy Limited (LMEL) stock soared to a 52-week high of ₹1,264 on January 1, 2025, after the company provided its business update for the nine months ended December 2024. The stock has jumped up by 18% over the last month. LMEL recorded an annual growth of 22% in DRI at 238,000 tonnes in the nine months. Iron ore production went up by 5% on year-on-year basis at 8.6 million tonnes.

On January 1, 2025, shares of Lloyds Metals & Energy Limited closed at ₹1269 which is a 3.02% gain than the previous close. the stock has gained a total of 110% in the last one year, and 73% in the last six months.

The month of December achieved the highest production of DRI, and the company was almost fully operational. Lloyds Metals was established in 1977 and is one of the leading iron ore miners in the state of Maharashtra and a considerable producer of DRI with an annual capacity of 340,000 tonnes. It also has a 34 MW power plant founded on waste heat recovery that promotes the sustainability of the company during its operations.
Lloyds Metals sells its products to different markets in India. This supports the iron and steel business of the company.