Multibagger in just 1 year: This iron & steel company signs MoU worth Rs 11,750 crore with Government of Odisha – know more here!

The stock gave multibagger returns of 180 per cent in just 1 year and a whopping 1,500 per cent in a decade.

Kalyani Steels Ltd informed that the company has signed a memorandum of understanding (MOU) with the Government of Odisha, expressing an intent to set:

a) 0.7 MTPA integrated advanced speciality steel & automotive components manufacturing complex with an estimated investment of Rs 6,626 crore.

b) Phase 1 of integrated titanium metal/alloy and aerospace & defence components manufacturing plant of 10,000 TPA capacity with an estimated investment of Rs 5,124 crore, in the State of Odisha.

Both, the company and the Government of Odisha agree that the detailed terms and conditions for the implementation of the MOU shall be drawn up subsequently.

Kalyani Steels Ltd, a subsidiary of the Kalyani Group, manufactures and sells iron and steel products, including camshafts, connecting rods, gears, and other components for the automotive industry, round casts for seamless tubes and rolled bars for various engineering applications.

Talking about the financials, the company has a market cap of over Rs 3,700 crore with a 3-year stock price CAGR of 40 per cent. The company has been maintaining a healthy dividend payout of 20.5 per cent. In its Quarterly Results (Q3FY24) and annual results (FY23), the company reported positive numbers.

Today, shares of Kalyani Steels Ltd zoomed 3.96 per cent to Rs 864.95 with a day’s high of Rs 878 and a day’s low of Rs 837.15. The stock gave multibagger returns of 180 per cent in just 1 year and a whopping 1,500 per cent in a decade. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

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