This companies shares gain after receiving BIS approval | Check details here
Shares of Rathi Steel and Power Ltd gained on Monday, i.e. on April 28, 2025, as the company has informed exchanges that the company has secured permission from the Bureau of Indian Standards (BIS) to use the standard mark on its SS 550 and SS 500 reinforcement bars under title of “High Strength Deformed Stainless Steel Bars and Wires for Concrete Reinforcement.”
“Rathi Steel and Power Limited (“Company”), for use of BIS standards mark on SS 550 and SS 500 Reinforcement Bars Under title of “High Strength Deformed Stainless Steel Bars and Wires for Concrete Reinforcement” in relation to 8 mm diameter, in addition to other approved products,” the company said in an exchange filing.
Meanwhile, the scrip started the session flat at Rs 30.26 on the BSE. However, it later touched the intraday high of Rs 31. Last seen, the stock was trading at Rs 30.73. The 52-week high of the stock is Rs 97.81 and the 52-week low is Rs 24.50.
The company has also stated that it has now got approval for manufacturing entire range / spectrum of SS 550 and SS 500 Reinforcement Stainless Steel Bars, ranging from 8 mm diameter to 32 mm diameter.
The company said that the approval will also help to optimally utilise the existing capacity by manufacturing additional products and thus enable it to cater to the growing demand for these products. The license will be valid till 01.02.2026.
Earlier, the company announced that it will invest Rs 50 crore in Uttar Pradesh. “The company will set up a forward integration facility to convert wire rods into bright bars and wires, which find application in the construction and automotive sectors,” RSPL said in an exchange filing.
The addition of value-added products will broaden the company’s product portfolio and help boost profitability, it added.
The company’s steel plant in Uttar Pradesh has an installed capacity of 2,00,000 tonne per annum (TPA), comprising a TMT bar mill and a wire-rod mill.
With PTI inputs
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