Gallantt Ispat shares surge nearly 17% after steel sales rise 9% in March quarter

Shares of Gallantt Ispat, the Gorakhpur-based steel maker, surged as much as 16.71% to hit an intraday high of ₹659 on the National Stock Exchange on Tuesday, April 7. On the BSE, Gallantt Ispat shares advanced as much as 16.56% to hit an intraday high of ₹658.25 amid spike in trading activity.

Gallantt Ispat on Monday said that its steel production and sales jumped 9% to 0.24 million tonnes and 0.23 million tonnes respectively in March quarter.

The company achieved capacity utilisation of 91% in March quarter and 86% in financial year 2025-26.

Gallantt Ispat's pellets production jumped 59% 2,21,612 million tonnes in March quarter from 1,39,697 million tonnes in the year-ago period.

Its sponge iron production rose 38% annually to 2,44,555 million tonnes compared with 1,77,072 million tonnes in the same period last year.

Production on billets and MS bars rose 9% to 2,35,212 million tonnes and 2,10,243 million tonnes respectively.

Gallantt Ispat had last month announced appointment of Pradyumna Kumar Satpathy as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company with effect from April 1,2026.

Satpathy is a seasoned finance leader with more than 28 years of comprehensive expertise in end-to-end finance management, corporate planning, cost control and audit. He is skilled in driving strategic initiatives, optimizing financial performance and ensuring statutory compliance across all functions. Proven track record in budgeting, forecasting, profitability analysis, credit and stock control, MIS & reporting, costing, training & development and internal audit & risk, Gallatt Ispat said in a regulatory filing.

Meanwhile, Gallantt Ispat shares were witnessing higher than usual trading activity as trading volume jumped by 98 times to 1.74 crore shares compared with an average trading volume of 1.78 lakh shares.

On the BSE, as many as 11.13 lakh shares changed hands compared with an average of 11,000 shares traded daily in the past two weeks.

As of 12:43 pm, Gallantt Ispat shares traded 14% higher at ₹644, outperforming the NIFTY 500 index which was down 0.21%.