Gallantt Ispat shares gained 5% to reach the upper circuit at ₹574.60 after the company highlighted progress on its ₹3,000 crore capital expenditure programme. The investment will support steel capacity expansion, raw material security and renewable energy development.

The integrated steel producer plans to invest ₹1,500 crore in iron ore mines located in Sonbhadra, Uttar Pradesh, and Todpura, Rajasthan. Captive mining is expected to reduce dependence on external suppliers and improve EBITDA margins by nearly ₹2,000 per tonne.

Another ₹1,200 crore has been allocated to expand steel production capacity, while ₹300 crore will fund a 78 MW solar power project. The expansion aligns with rising infrastructure and construction demand across India.Gallantt Ispat spent ₹137 crore during Q1 FY27, taking its cumulative capex spending to ₹775 crore as of June 30, 2026. The programme is being funded through internal accruals without additional debt, supporting the company’s long-term operational efficiency and growth strategy.