Gallantt Ispat Ltd. Share Price – NSE  / BSE

Steel, Small Cap

Net profit of Gallantt Ispat rose 296.71% to Rs 121.87 crore in the quarter ended June 2024 as against Rs 30.72 crore during the previous quarter ended June 2023. Sales rose 11.92% to Rs 1159.69 crore in the quarter ended June 2024 as against Rs 1036.17 crore during the previous quarter ended June 2023.

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Gallantt Ispat will hold a meeting of the Board of Directors of the Company on 12 August 2024.

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Gallantt Ispat has been declared as a Successful PreferredBidder for Composite Licence for Todupura Iron Ore Block District Karauli. The e-Auctions of the block was held and conducted bythe State Government of Rajasthan on 02 May 2024.

The geological data and the structure indicate that the Iron Ore investigated area is 260.71 hectare and the total deposit of Iron Ore is 85.42 million ton.

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The domestic equity indices continued to trade in narrow range with minor gains in early afternoon trade. The Nifty traded above the 23,500 level. Realty shares extended gains for the third consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex was up 204.16 points or 0.27% to 77,212.03. The Nifty 50 index rose 59.50 points or 0.25% to 23,525.10.

The Sensex and Nifty clocked an all-time high of 77,366.77 and 23,579.05 respectively in morning trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index added 0.79%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 46,278.53 and 51,758.97 respectively.

The market breadth was positive. On the BSE, 2,107 shares rose and 1,771 shares fell. A total of 180 shares were unchanged.

Economy:

India’s forex reserves rose 4.307 billion US Dollars to hit a new all-time high of 655.817 billion Dollars for the week ended June 7. The reserves had jumped 4.837 billion dollars to 651.51 billion dollars in the previous week. For the latest week, foreign currency assets, a major component of the reserves, increased by 3.773 billion dollars to 576.337 billion dollars.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.30% to 12.99. The Nifty 27 June 2024 futures were trading at 23,570, at a premium of 44.9 points as compared with the spot at 23,525.10.

The Nifty option chain for the 27 June 2024 expiry showed maximum Call OI of 64.9 lakh contracts at the 24,000 strike price. Maximum Put OI of 79.5 lakh contracts were seen at 22,500 strike price.

Buzzing Index:

The Nifty Realty index rose 0.83% to 1,138.50. The index jumped 3.93% in the three consecutive trading sessions.

Macrotech Developers (up 2.54%), Brigade Enterprises (up 1.67%), Prestige Estates Projects (up 1.58%), Godrej Properties (up 1.11%) and Mahindra Lifespace Developers (up 0.9%) advanced.

On the other hand, Sunteck Realty (down 1.54%), Sobha (down 1.47%) and Phoenix Mills (down 0.86%) slipped.

Stocks in Spotlight :

BLS E-Services soared 8.15% after the firm said that it has entered into a definitive share purchase agreement (SPA), to acquire 55% equity shares of Aadifidelis Solutions and its affiliates (ASPL) for an enterprise value of Rs 190 crore.

Larsen and Toubro rose 0.30%. The EPC major announced that its construction arm has secured 'significant’ orders for its Buildings & Factories (B&F) vertical in India.

Gallantt Ispat was locked in 5% upper circuit after the company announced that it has been declared as a successful 'preferred bidder’ in the auctions for granting the Composite License Iron Ore Block in the State of Raiasthan.

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