Kalyani Steels stock surged by 3.02 per cent on the BSE to trade at ₹840.90 as of 2:48 pm today, after it announced the signing of a memorandum of understanding (MoU) with the Odisha government.
The agreement pertains to the intent of setting up an integrated advanced specialty steel and automotive components manufacturing complex with 0.7 MTPA capacity at an estimated investment of ₹6,626 crore.
In addition, it includes setting up the first phase of the integrated titanium metal/alloy and aerospace and defence components manufacturing plant of 10,000 TPA capacity at an estimated investment of ₹5,124 crore.