Lloyds Metal and Energy climbs after LGRF incorporates subsidiary in DMCC zone

Lloyds Metals and Energy jumped 3.02% to Rs 1211.85 after the company's wholly owned subsidiary, Lloyds Global Resources FZCO (LGRF) has incorporated a subsidiary, Virtus Lloyds Resources FZCO(Virtus) in Dubai Multi Commodities Centre Zone (DMCC).

The wholly owned subsidiary company incorporated Virtus for expansion of the groups investment activities in metals and mining sector in United Arab Emirates, Dubai in the DMCC zone. The new entity will enter into strategic partnership with metals and minerals developers from United States of America (USA).

LGRF will acquire 100% stake in Virtus for total consideration of AED 50,000.

Lloyds Metals and Energy (LMEL) is the leading player in the iron and steel-making industry. The companys consolidated net profit soared 169.05% to Rs 1,047.39 crore on 201.94% surge in revenue from operations to Rs 5,058.08 crore in Q3 FY26 over Q3 FY25.

 

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