Vardhman Special Steels zooms on starting mass production for Aichi Steel Corporation

Vardhman Special Steels zooms on starting mass production for Aichi Steel Corporation

by 5paisa Research Team Last Updated: Mar 08, 2023 - 06:25 pm 725 Views

Shares of Vardhman Special Steels Limited jumped more than 8% in today’s trade.

Mass Production of Steel

The company has started mass production of steel for forging companies of Aichi Steel Corporation based in South East Asia for some of the grades for which it has received the approvals. The sales of these products for FY 2023-24 will be 10000 MT approx. It will further increase with the receipt of more approvals in the next 2-3 years.

Management Comment

Sachit Jain, Vice Chairman & Managing Director, Vardhman Special Steels Ltd. said,

“This is a historic moment for VSSL as we have started mass production of steel for Toyota.

This will establish VSSL and India as a supplier of high-quality automotive steel. This is one of the biggest landmark event in the history of VSSL and a matter of great pride for our country.” 

Share price movement of Shree Cement Limited

Today, the stock opened at Rs 349, with a high and low of Rs 379 and Rs 349. The stock closed trading at Rs 372.80, up by 8.28%. In the last six months, the shares of the company have given more than 45% returns.

The stock has a 52-week high of Rs 379 and a 52-week low of Rs 201.10. The company has a ROCE of 25.7% with a market capitalisation of Rs 1,491 crore.

Company profile

Headquartered in Ludhiana, Punjab, VSSL is one of India’s leading producers of special

steels, catering to diverse requirements of Automotive, Engineering, Tractors, Bearings

and Allied Industries. VSSL’s varied product suite comprises billets, steel bars and rods and bright bars of various categories of special and alloy steels.

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