New Delhi, July 27 -- Shares of Rhetan TMT Ltd retraced on Monday after nearing their 52-week high, even as the company announced a key business milestone by receiving a licence from the Bureau of Indian Standards (BIS) to manufacture Fe500D, Fe550 and Fe550D grade Thermo Mechanically Treated (TMT) bars.

The BIS certification enables the company to produce high-strength, high-ductility TMT bars that are widely used in large-scale infrastructure and construction projects. According to the company, the approval significantly expands its addressable market by allowing it to cater to government and public sector projects, including highways, bridges, dams, metro rail networks and other infrastructure developments, where these grades are the ...