{"id":115482,"date":"2023-12-13T14:46:26","date_gmt":"2023-12-13T09:16:26","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=115482"},"modified":"2023-12-13T15:21:54","modified_gmt":"2023-12-13T09:51:54","slug":"mid-cap-stock-falls-by-2-5-after-company-temporarily-suspended-their-pellet-plant-unit","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/mid-cap-stock-falls-by-2-5-after-company-temporarily-suspended-their-pellet-plant-unit\/","title":{"rendered":"Mid cap stock falls by 2.5% after company temporarily suspended their pellet plant unit"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1177808989\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of a leading producer and exporter of Iron Oxide Pellets fell by 2.5 percent to a price of Rs 362 per share after the company temporarily suspended its Mangalore pellet plant unit.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3580281532\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 2:20 p.m., KIOCL Ltd shares were trading at Rs 365.55 per share, down 1.52 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of Rs 22,261 crore&nbsp;<\/p><p>According to the company&#8217;s exchange filing, KIOCL Ltd has temporarily suspended its Pellet Plant Unit in Mangalore effective from today, December 12, 2023, due to a lack of iron-ore fines.&nbsp;<\/p><p>Currently, KIOCL has a 3.5 million tons capacity Pellet Plant and 2.16 tonnes capacity of the Blast Furnace Unit located at Mangalore, Karnataka.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-936222474\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>KIOCL Ltd&#8217;s share has risen 90 percent in the last six months and 76 percent in a year.&nbsp;<\/p><p>KIOCL revenue has increased by 180 percent year on year, from Rs 154 crore in Q2FY23 to Rs 431 crore in Q2FY24. During the same period, the company&#8217;s net losses decreased, from Rs 102 crore to Rs 21 crore.&nbsp;<\/p><p>The company has planned to re-activate the existing Blast Furnace of 350 Cu.M capacity by suitable upgradation with a forward integration project of 2.0 lakh TPA DIS 1.8 Lakh TPA, Coke with a total capital outlay of Rs 836.90 crores.&nbsp;<\/p><p>During the FY 22-23 the company kept a total CAPEX of Rs 422.83 crores, which was 110% of the Budget Estimate (BE) of Rs 384.63 crores and against the FY21-22 CAPEX of Rs 290.45 crores.&nbsp;<\/p><p>According to the recent shareholding pattern, the company promoters hold 99.03 percent of the company stake and retail investors hold a 0.84 percent stake.&nbsp;<\/p><p>KIOCL is a flagship firm of the Government of India&#8217;s Ministry of Steel, holding Miniratna status. It is an export-oriented unit with experience in iron ore mining, filtering technologies, and pellet manufacture. The company also operates in the Pellets and Pig Iron business segments.<\/p><div class=\"trade-content-10\" id=\"trade-3657631854\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong>Written by Omkar Chitnis<\/strong><\/p><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3529391217\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of a leading producer and exporter of Iron Oxide Pellets fell by 2.5 percent to a price of Rs 362 per share after the company temporarily suspended its Mangalore pellet plant unit.&nbsp; At 2:20 p.m., KIOCL Ltd shares were trading at Rs 365.55 per share, down 1.52 percent on the National Stock Exchange [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":38009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-115482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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