Krishna Defence and other stocks in focus after signing MoU with Min. of Steel under PLI scheme

Synopsis: Several steel-focused stocks gained attention after signing MoUs under the PLI Scheme 1.2. Companies announced combined investments of over ₹400 crore, targeting capacity additions up to 1,16,000 TPA and phased expansion to 80,000 TPA. Shares moved up to 3% amid positive sentiment around specialty steel manufacturing.

The Production Linked Incentive (PLI) Scheme for Specialty Alloy and Stainless Steel is a government initiative aimed at boosting domestic manufacturing and reducing imports. It encourages companies to expand capacity and invest in advanced steel production by offering financial incentives linked to incremental output, strengthening India’s position in high-value steel manufacturing.

Krishna Defence and Allied Industries Limited

Krishna Defence and Allied Industries Limited is an Indian manufacturing company focused on defence, railways, and high-performance metal components. The company produces safety-critical parts such as braking systems, couplers, and specialized alloy steel castings.

With strong technical capabilities, it serves government and private sector clients in the defence and infrastructure segments. With a market capitalisation of Rs 1,441 crore, the shares were trading at Rs 966 crore, decreasing around 2.13 percent as compared to the previous closing price.

The company has entered into a Memorandum of Understanding with the Ministry of Steel under the PLI scheme for specialty alloy and stainless steel long products. Getting this approval is a strong strategic move for the company. It will not only benefit the company by expanding the scope of offering high-value steel products, but the incentives provided by the Government of India will also enhance the efficiency and production capacity of the company.

Sambhv Steel Tubes Limited

Sambhv Steel Tubes Limited is engaged in the manufacturing of ERW steel pipes and structural tubes. The company caters to sectors such as infrastructure, construction, and engineering. With a growing distribution network and focus on quality production, it aims to strengthen its presence in India’s expanding steel and infrastructure market. With a market capitalisation of Rs 2,888 crore, the shares were trading at Rs 98.0 crore, increasing around 1.47 percent as compared to the previous closing price.

Sambhv Steel Tubes Limited and its wholly owned subsidiary have signed agreements with the Ministry of Steel under the PLI Scheme 1.2 for specialty steel. The companies plan to invest about ₹361 crore combined to expand capacity, including 1,16,000 tonnes of thin precision gauge stainless steel and 24,000 tonnes of alloy and rolled products between FY26 and FY28.

Jayaswal Neco Industries Limited

Jayaswal Neco Industries Limited is a diversified iron and steel manufacturer with integrated operations ranging from iron ore to finished castings. The company supplies automotive castings and steel products to domestic and global markets. It has established itself as a key player in India’s metal and engineering industry. With a market capitalisation of Rs 7,775 crore, the shares were trading at Rs 80.1 crore, increasing around 3.01 percent as compared to the previous closing price.

Jayaswal Neco Industries Limited has signed an MoU with the Ministry of Steel under the PLI Scheme 1.2 for Specialty Steel. The company will invest ₹45.08 crore to expand alloy and stainless steel rolled-long products capacity, targeting phased annual output increases from 18,000 TPA to 80,000 TPA between FY26 and FY30.

PTC Industries Limited

PTC Industries Limited is a leading Indian company that offers engineering and manufacturing services for various products that fall under the umbrella of industrial items such as bearings, rubber moulded products, and polymer solutions.

The company operates in the market with a focus on serving different segments including the automobile sector, railways, and construction, while also trying to increase their footprint. With a market capitalisation of Rs 27,824 crore, the shares were trading at Rs 18,558 crore, increasing around 0.73 percent as compared to the previous closing price.

Aerolloy Technologies, a wholly owned subsidiary of the PTC Group’s PTC Industries Limited, has signed two MoUs with the Ministry of Steel under the PLI Scheme 1.2 for Titanium Alloys and Super Alloys. These strategic materials will be essential for the aerospace and defense sectors.

Aerolloy also stands out as the only fully integrated entity across alloy development, melting, forging, casting, and precision machining of titanium and super alloys. Operating leverage, capital efficiency, and high-value/high-entry-barrier strategic materials are some of the notable sectors that are anticipated to be aided by the PLI incentives.

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