India, Oct. 5 -- What's the news?

India's steel industry has been on an expansion spree for the past few years, with the government pushing hard for a 300 million tonne capacity target by 2030 to fuel the country's infrastructure, housing and manufacturing ambitions. In this context, mineral-rich but industrially under-exploited regions have become the preferred location for large greenfield steel investments, with companies prioritising proximity to raw materials over simply adding capacity near existing hubs.

Shares of Shyam Metalics & Energy Ltd. were trading at Rs. 1,033.00, down 1.41 percent from previous close of Rs. 1,047.80. The stock opened at Rs. 1,054.00, reaching an intraday high of Rs. 1,057.60 and low of Rs. 1,029.40. The...