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Gallantt Ispat shares surged in Thursday’s trading session, October 15, drawing investor attention to the steelmaker amid its expansion plans and a technical recovery. However, the stock remains below its record levels, while its recent rally has brought it close to a key resistance zone. Investors and traders will be watching whether the momentum can sustain or whether profit booking emerges at higher levels.
The stock climbed 14% to ₹646 apiece on the BSE. Despite the rally, it remained 32% below its peak of ₹946.70, recorded in April 2026. Gallantt Ispat had touched a 52-week low of ₹470.80 in November 2025.
The stock has gained 23% over the past week and 16% over one month. However, it has declined 10% over three months, 21% over six months and 6% over one year. Over five years, it has delivered multibagger returns of 669%.
According to media reports, Gallantt Ispat is entering a major growth phase in FY2026–27, with plans to expand manufacturing capacity and strengthen its brand presence across India. The company has appointed Janhvi Kapoor as a brand ambassador for Gallantt TMT Bars, joining Ajay Devgn.
The company operates integrated manufacturing facilities in Gorakhpur, Uttar Pradesh, and Kutch, Gujarat. Its operations cover pellets, direct reduced iron (DRI), or sponge iron, billets, TMT bars and captive power generation.
Gallantt currently has an annual finished-steel production capacity of around 1 million tonnes, alongside 129.5 MW of captive power capacity and a 7 MW captive solar plant. It employs more than 5,000 people.
As part of its expansion strategy, the company aims to increase steel production capacity from approximately 1 million tonnes to 1.3 million tonnes by the second half of 2026. Its ₹3,000 crore capital expenditure programme includes capacity expansion, an 85 MW solar power plant and the commissioning of iron ore mines in Uttar Pradesh and Rajasthan.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi Share and Stock Brokers Limited, said the stock had recovered nearly ₹100 from support at its long-term bullish trendline and was sustaining above its 200-day exponential moving average (DEMA).
“Given the proximity to this resistance, we recommend booking profits at current levels and waiting for a healthy pullback before considering fresh entry,” Patel said.
He identified ₹600 as the immediate support level and ₹645 as the key resistance. A decisive breakout and sustained move above ₹645 could attract fresh buying interest, potentially opening the door to another 5–10% upside.
Patel advised traders to remain cautious near the current resistance and consider a fresh entry either after a healthy pullback or following a confirmed breakout above ₹645.
For investors tracking the stock, the key levels to watch are ₹600 on the downside and ₹645 on the upside. The next move will depend on whether the stock can sustain its recovery and overcome the resistance zone.
Gallantt Ispat reported a 29% year-on-year decline in standalone net profit after tax to ₹124 crore in Q1 FY27, ended June 30, 2026. The decline was primarily attributed to higher raw material costs and a planned maintenance shutdown at its pellet plant.
Revenue from operations increased 2% year-on-year to ₹1,146 crore, while EBITDA declined 20% to ₹203 crore. Operating margins contracted to 18% from 23% in the corresponding quarter of the previous year.
The company’s consolidated net profit also stood at ₹124 crore. Despite the pressure on profitability, Gallantt said it maintained its debt-free status, funding its capital expenditure through internal accruals.
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