Last week, the company reported a 9% year-on-year increase in both steel production and sales for the March quarter, with production at 0.24 million tonnes and sales at 0.23 million tonnes.
The company operated at a capacity utilisation of 91% during the quarter, while utilisation for the full financial year 2025–26 stood at 86%. Pellet production saw a sharp jump of 59% to 2,21,612 tonnes in the March quarter, compared with 1,39,697 tonnes in the year-ago period. Sponge iron output also recorded strong growth, rising 38% to 2,44,555 tonnes from 1,77,072 tonnes last year.
Meanwhile, production of billets and MS bars increased 9% year-on-year to 2,35,212 tonnes and 2,10,243 tonnes, respectively.
Should you buy Gallantt Ispat shares?
“Gallantt is in a strong long-term uptrend, consistently trading above its key moving averages, which are well aligned in a bullish configuration. After a sharp, impulsive rally, it entered a healthy consolidation phase, forming a base around the Rs 600–700 zone while holding above the rising 100-WEMA, indicating sustained buying interest,” Ajit Mishra, SVP at Religare Broking said.
The recent breakout from this range, supported by a surge in volume, signals trend continuation and fresh momentum. Price reclaiming lifetime highs with an expanding range suggests informed participation. Momentum indicators are also turning up from neutral zones, reinforcing bullish bias. As long as the stock sustains above the breakout level (Rs 780), the structure remains positive with potential upside toward Rs 900–950. On the flip side, the bias would turn sideways to negative below the Rs 700 level.
“The stock has witnessed an upmove supported by high volumes in the last few days. The momentum seems positive, but considering the risk-to-reward, it is advisable to look for opportunities only on declines. The support for the stock is placed around Rs 740-720,” Ruchi Jain, Vice President of Technical Research at Motilal Oswal, said.
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Gallantt Ispat shares have risen 82% in the last 1 year and a staggering 1,600% in the last 5 years.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)