Top Searches
Advertisement

Shah Alloys to Shut Down Santej Steel Plant After Years of Losses

Updated: July 21, 2025 17:21

Image Source : EquityBulls
Shah Alloys Ltd has officially announced the closure of its iron and steel plant located in Santej, Gujarat. The decision follows prolonged financial underperformance and was approved by the company’s Board of Directors.
 
Key Highlights:
 
- The plant has been incurring operational losses for several consecutive years
 
- Closure is expected to be completed within one month from the board’s resolution
 
- The move aligns with the company’s restructuring efforts to streamline operations and reduce financial strain
 
- Intimation was made under Regulation 30 of SEBI’s LODR guidelines
 
Operational Impact:
 
- The Santej facility was a key production unit for stainless steel and alloy products
 
- Employees and stakeholders have been notified; severance and compliance protocols are underway
 
- The company will continue its remaining operations and explore asset monetization options
 
Market Sentiment:
 
- Analysts view the closure as a necessary step toward long-term viability
 
- Stock movement remains muted amid cautious investor outlook
 
Sources: Rediff MoneyWiz, Economic Times, Moneycontrol, Business Standard

Advertisement

STORIES YOU MAY LIKE

Image Source: Business Today
Power to Pause: VP Dhankhar Steps Down, Prioritising Health Over Protocol
Image Source: Facebook
Spirit Under Scrutiny: Tilaknagar Industries Caught in Crosshairs of Andhra Liquor Scam Probe
Image Source: Mukhrit
Thriving Despite Headwinds: Dhanlaxmi Bank's June Quarter Sees Robust Growth
Advertisement
Image Source: Digital Health News
Big Bucks Brewing at Torrent: Board to Prescribe High-Dose Debenture Fundraiser
Image Source: FlipHTML5
AGI Greenpac Diversifies with ₹10B Investment, Targets 1.6 Billion Can Capacity by FY30
Image Source: Business Standard
Google Ups the Ante, Bans the House: Joins India’s Fight vs. Online Gambling Fraud
Image Source : BW Businessworld
MediaTek Eyes India’s EV Boom With AI-Powered Chips and Scalable Compute Platforms
Advertisement
Live Blogs
SBI Tags RCom Loan as Fraud, Puts Anil Ambani in RBI Crosshairs
Thrill-Seekers Assemble: APTDC Flooded with 130 Adventure Tourism Applications
Level Unlocked: Good Game Becomes World’s First As-Live Global Gaming Reality Show
From Devotion to Dynamite: Ganesh’s Mighty Avatar Steals the Show in Yours Sincerely, Raam
Top Stories
Image Source: Housing
Brick by Brick, Profit by Profit: PNB Housing Q1 Earnings Rise on Solid Loan Growth
Image Source: EnTrackr
Moo-ving Up! Milky Mist Sheds Fat, Bulks Up With ₹20.35 Billion IPO
Image Source: RealtynMore
East Bengaluru Levels Up: Brigade's ₹5,200 Cr Mega Mixed-Use Marvel in the Works
Image Source: News24
Exit Saha, Enter Jain: Bajaj Finance Brings Its Visionary MD Back Onboard
Advertisement
Advertisement

Follow WOWNEWS 24x7 on:

Copyright 2024 WOWNEWS 24x7. All rights reserved. The WOWNEWS 24x7 is not responsible for the content of external sites. Read about our approach to external linking.

Powered By Just Imagine