Business news · Corporate · 05 Oct 2026
IN Metals & Mining Capital Goods
Shyam Metalics and Energy has signed a memorandum of understanding with the Maharashtra government for an integrated steel complex at Chandrapur with 9 million tonnes a year of finished steel capacity and an investment of Rs 50,000 crore. It is planned in two phases, 3.75 million tonnes and then 5.25 million tonnes, covering pellets, sinter, coke, ironmaking, steel melting and rolling. The site is near Gadchiroli's iron ore and local coal. The company puts employment at about 10,000 direct and 20,000 indirect jobs.
A memorandum is a statement of intent, not a funded order: no timeline or financing plan was given, and the sum is large against the company's present size, so how it is paid for is the open question for shareholders. If built, the plant adds flat and long steel supply in central India, where it would compete with existing listed steelmakers, and it means equipment and construction orders for capital goods suppliers. The shares were down 1.7% at Rs 1,029.90 when the report was published.
Reported by Angel One ↗ on 05 Oct 2026.
NSE stocks, from the last close on or before 05 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Metals & Mining | 27 | -2.8% | 5 of 27 | -2.5 pts |
| Capital Goods | 126 | -3.3% | 38 of 126 | -3.0 pts |
| All tracked stocks | 804 | -0.3% | 374 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| Shyam Metalics and Energy Ltd. SHYAMMETL | ₹1,020.2 | ₹1,198.5 | +17.5% |
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