Lloyds Metals spikes up

Lloyds Metals is up today and currently among the top three gainers as its operational updates for FY25 show that it has achieved record-breaking sponge iron and iron ore production, which explains the stock’s strong performance.
Its sponge iron production YoY was up 18% at 308,243 tonnes and 6 out of the 7 kilns in total, recorded the highest-ever production. Its operating at full capacity which means its order book is strong and such efficiency gains may lead to higher EBITDA margins.
It also had a record iron-ore production at 10 mtpa, achieving its Environmental Clearance Limit. Rising steel prices and build-up in infra projects have led to the increased demand for iron ore. And if the demand remains strong, it will have the pricing power even after it hikes the price.
The stock price rose 6% to hit an intraday high at Rs.1350 and is currently trading around the same levels. Its 52-week high is at Rs.1477.50.