BMW Industries jumps 10% after signing MoU with Steel ministry under PLI

BMW Industries shares jumped 9.9 per cent in trade on Tuesday, March 25, 2025, logging an intraday high at ₹49.51 per share on BSE. The stock was in demand after the company inked a Memorandum of Understanding (MoU) with the Ministry of Steel under the Production Linked Incentive (PLI) scheme 1.1 for specialty steel.

Around 12:35 AM, BMW Industries share price was up 7.15 per cent at ₹48.25 per share on BSE. In comparison, the BSE Sensex was up 0.12 per cent at 78,078.03. The market capitalisation of the company stood at ₹1,086.04 crore. The 52-week high of the stock was at ₹79.05 per share and the 52-week low was at ₹39.36 per share.

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that BMW Industries Limited (the company) has signed a Memorandum of Understanding (MOU) with the Ministry of Steel, Government of India under the Production Linked Incentive (PLI) scheme 1.1 for specialty steel," the filing read.

The filing further read as a Qualified beneficiary of PLI scheme, the company will manufacture “Coated/ Plated Steel Products of Metallic/ Non- Metallic Alloy” & “AI- Zn Coated (Galvalume) products at its upcoming Greenfield Downstream Steel Complex in Bokaro, Jharkhand.

“We are honoured to be qualified under the PLI Scheme of the Ministry of Steel, led by the Honourable Minister for Steel & Heavy Industries, Shri H D Kumaraswamy. This milestone will fortify our downstream steel capabilities and expand our footprint in both domestic and international markets. With our strategically positioned Bokaro plant and seamless access to key resources, we are confident this project will create enduring value for our stakeholders while contributing to the government's vision of advancing specialty steel production in India. Aligned with our Honourable Prime Minister's ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, we remain committed to promoting self-reliance and driving growth in the steel sector," said Harsh Bansal, managing director, BMW Industries.

BMW Industries is one of the leading manufacturers in the steel sector engaged in the manufacturing of HRPO Coils, CR Coils, GP Coils, GC Sheets, MS and GI pipes, TMT rebars, etc, and processing the same for marquee steel players in India. Incorporated in 1981, the company is in Eastern Region with its registered office in Kolkata, West Bengal.

In the past one year, BMW Industries shares have lost 18 per cent against Sensex's rise of 7.6 per cent.