Announced Mon, 10 Aug · 20:13 IST
Manaksia Steels to invest Rs 800 cr in Haldia capacity expansion
MANAKSTEEL · price
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Price reaction · full curve 14 horizons · vs prior close
+4.4%1-day move
₹80.21
prior close
₹84.71
base price
After-mkt
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AI summary
Manaksia Steels board approved a Rs 800 crore capacity expansion at Haldia, West Bengal for Cold-Rolled Coil and Coated Steel in two phases. Phase I (Rs 375 cr, by FY30) adds CR, coated, and colour coated capacity plus a 10 MW solar plant. Phase II (Rs 425 cr, by FY34) further expands speciality steel. Funded via debt and internal accruals. Q1 FY27 standalone PAT jumped to Rs 22.4 cr from Rs 6.3 cr YoY on revenue of Rs 302 cr.
Likely market impact
Big capacity expansion signals growth but raises debt burden. Strong Q1 results support expansion. Stock may react positively to growth visibility.