The total capex is estimated to be in the range of, and it will be funded from their internal accruals. It's like a supernova of growth potential! The Indian stainless-steel sector is a powerhouse, being the 2nd largest producer and consumer worldwide, with a massive manufacturing capacity of over 6.8 million tons annually.

The price band of the issue has been fixed at Rs 705 to Rs 741 per equity share. The issue size is Rs 1,551 crore at a higher price band.

Today it has hit fresh 52 week high and over the past one year shares of company has increased by 68 per cent.

The shares have given over 85 per cent in the last year and 241 per cent in the past two years.

Additionally, The Board have declared a final dividend on equity shares for the first time ever at 10 per cent or Rs 1 per equity share of the face value of Rs 10 for the financial year ended March 31, 2023. In addition, the company is the first SME enterprise from the region of Jammu and Kashmir to be listed on a stock exchange.

The overall market sentiment seems positive, as approximately 1532 stocks are advancing compared to 332 stocks that are declining in the broader market.

Previously, the company signed the memorandum of understanding (MOU) with Chetak Equine Development Private Limited (CEDPL) on July 18, 2023, to Co-organize the Show named Sarangkheda Chetak Festival for the upcoming 10 years.

The stock gave multibagger returns of 112 per cent in just 6 months and over 200 per cent in 1 year. The stock gave multibagger returns of 230 per cent in just 6 months and over 400 per cent in 1 year.

The acquisition of SIL will help ACL to strengthen its market leadership and increase its cement capacity to 73.6 MTPA from the current 67.5 MTPA. With the ongoing capex of 14 MTPA and with commissioning of 5.5 MTPA capacity at Dahej and Ametha by Q2 of FY24, the Adani Group’s capacity will be 101 MTPA by 2025.

Shares of the company gained more than 35 per cent in the last six months.