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Lloyds Metals and Energy Limited: Companies usually think more about their success and their profits, but today we are going to tell you about a company which has not only earned profits but has also made its employees rich by giving wonderful gifts. Here we are talking about Lloyds Metal and Energy Limited, associated with the iron and steel industry, which is mining iron core in the Maoist affected Gadchiroli district of Maharashtra.
The company distributed expensive shares cheaply
The company distributed shares worth more than Rs 1,337 to its approximately 6000 employees and in return they were charged only Rs 4 per share. The company also organized a program to distribute shares to the employees at very low prices.
State Chief Minister Devendra Fadnavis also participated in this. He gave the certificate of distribution of shares to Padmashree awarded 70 year old tribal social worker Tulsi Munda and two surrendered Maoists. Let us tell you that Tulsi Munda works in the Odisha unit of the company. Generally, employees come from Gadchiroli or remote tribal areas to work here.
Movement has started in the share market
If we look at the number of shares distributed by the company to its employees today, according to the market capitalization, then the total value of the shares is Rs 1,000 crore. This move of the company also created a stir in the stock market during the trading session on Thursday. A huge jump of up to 7 percent was seen in the company’s shares.
With this, the total market capitalization of the company reached Rs 66,091 crore on Thursday with a growth of 6.7 percent in shares. Due to this, the shares closed at Rs 1,350 per share as compared to Rs 1,263 per share during the last trading session.
Many achievements in the name of the company
Lloyds Metal and Energy Limited achieved many major achievements in the first nine months of the current financial year. Firstly, the company produced a record iron ore of 8.6 million tonnes, which shows an increase of 5 percent year-on-year.
Additionally, its Direct Reduced Iron (DRI) production also reached 238,433 tonnes, showing a strong growth of 22 percent year-on-year. Especially in December the company performed tremendously.
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