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Gallantt Ispat touches roof on emerging as successful ‘Preferred Bidder’ for Todupura lron Ore Block

Gallantt Ispat Ltd. | Steel & Iron Products | Metals & Mining | BSE: 532726 | NSE: GALLANTT

18 Jun 2024 Evaluate

Gallantt Ispat is currently trading at its upper limit of Rs. 333.25, up by 15.85 points or 4.99% from its previous closing of Rs. 317.40 on the BSE.

The scrip opened at Rs. 318.00 and has touched a high and low of Rs. 333.25 and Rs. 313.50 respectively. So far 27107 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 333.25 on 18-June-2024 and a 52 week low of Rs. 56.65 on 26-Jun-2023.

Last one week high and low of the scrip stood at Rs. 333.25 and Rs. 281.30 respectively. The current market cap of the company is Rs. 8040.69 crore.

The promoters holding in the company stood at 68.93%, while Institutions and Non-Institutions held 0.02% and 31.04% respectively.

Gallantt Ispat has been declared as a successful ‘Preferred Bidder’ from the Director of Mines & Geology, Government of Rajasthan on June 15, 2024, for Composite Licence for Todupura lron Ore Block District Karauli. The e-Auctions of the block was held and conducted by the State Government of Rajasthan, on May 02, 2024 on MSTCT e-auction portal.

As per the Terms of Tender Documents the Qualified Bidder who submits the highest finaI Price Offer shall be declared as the Successful ‘Preferred Bidder’ immediately on conclusion of the e-auction. The Company has submitted and offered the Highest Final Price Offer of 175.05% to become a Successful ‘Preferred Bidder’.

The Company will take all requisite steps as per the Tender Document to obtain Letter of lntent, all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA) and start the mining operations.

The above lron Ore Mines has been allotted for Gujarat Steel Unit of the Company. ln-house mining of lron ore, being the basic raw material of the Company, shall ensure operational flexibility, easy availability and no dependency on international as well as domestic suppliers of lron Ore for a period of 20-25 years (approximately). Owning and efficiently operating through captive lron Ore mining, significant cost saving can be realised and sustained which, in turn, would surge the operating as well as net profit of the Company considerably.

Gallantt Ispat manufactures Sponge Iron, Mild Steel Billets, Re-Rolled products (TMT bars) and a Modern Roller Flour.

Gallantt Ispat Share Price

850.25 -84.50 (-9.04%)

17-Apr-2026 16:59 View Price Chart

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Gallantt Ispat touches roof on emerging as successful ‘Preferred Bidder’ for Todupura lron Ore Block

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