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Lloyds Metals shines on likely gains from acquisition, capex
Mint Bangalore
|January 08, 2025
Lloyds Metals & Energy Ltd's shares have gained about 15% so far in 2025 after the company's quarterly update and announcement of employee stock options (Esops) for its 6,000 workers.
For the December quarter (Q3FY25), its iron ore production is up 8% year-on-year, higher than the 3.5% growth in half-year ended September (H1). Volume growth, along with the ₹800-900 per tonne price hike during the quarter, should boost profitability.
The issuance of Esops, worth over ₹1,400 crore at the current price, carries significance given the disruption faced by the iron ore miner until some years ago due to its presence in Maoist-affected Gadchiroli in Maharashtra.
This story is from the January 08, 2025 edition of Mint Bangalore.
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