Stock Below Rs 30: Small-Cap Steel Company Achieves Key Milestone With 1 MW Captive Solar Project; Power Generation Expected in August

On Monday, Indian equity benchmark indices traded higher, with the benchmark Nifty 50 index rising 199.00 points, or 0.84 per cent, to 23,966.45. Amid the positive market sentiment, Rhetan TMT share price jumped 2.50 per cent to Rs 29.06 after the company announced that its 1 MW (AC) captive ground-mounted Solar power project has completed all major regulatory and execution milestones and is ready for commissioning.

1 MW Captive Solar Project Ready for Commissioning

Rhetan TMT announced that its 1 MW (AC) captive ground-mounted solar power project has completed all key regulatory approvals and installation activities. The company has secured final registration from the Gujarat Energy Development Agency (GEDA) under the Gujarat Renewable Energy Policy, 2023, and has also received approval from the National Highways Authority of India (NHAI) for laying an underground electrical cable across the national highway.

The company stated that the project installation has been completed and testing and commissioning activities are currently underway. Commercial power generation is expected to commence by the end of the first week of August 2026.

Expected to Improve Cost Efficiency

According to the company, captive solar power generation is expected to reduce one of the largest input costs in steel manufacturing by providing stable and self-generated renewable energy for its manufacturing facility at Kadi, Gujarat. The company believes the project will improve operational efficiency while supporting long-term cost optimisation over the asset's life.

Rhetan TMT added that the project also strengthens its transition towards environmentally responsible steel manufacturing, a factor that is increasingly valued by institutional investors, customers and policymakers. The company noted that the solar project complements its recently obtained BIS certification for premium TMT grades, reflecting simultaneous improvements in both manufacturing efficiency and product quality.

Focus on Sustainable Manufacturing

The company said the successful execution of the project, from its announcement in February 2025 to regulatory approvals and installation, demonstrates its ability to execute strategic initiatives on schedule. It added that the captive solar project reflects its long-term strategy of building a cost-efficient and sustainable manufacturing business while enhancing competitiveness in India's growing steel sector.
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BIS Approval Expands Rhetan TMT’s Product Portfolio

The company has received the requisite licence from the Bureau of Indian Standards for manufacturing Fe500D, Fe550 and Fe550D grade Thermo Mechanically Treated bars. These premium steel grades offer high strength and ductility, making them suitable for modern infrastructure and large-scale construction projects across India.

A Strong Market Opportunity

India is currently the world’s second-largest steel producer and one of the fastest-growing steel markets. Domestic steel demand is expanding at approximately 8–9% annually, placing the country among the strongest growth markets globally.

The National Steel Policy envisages increasing India’s steel production capacity to 300 million tonnes by 2030–31. At the same time, the Union Government’s annual capital expenditure of over ₹11 lakh crore on roads, railways, metro networks, housing and urban infrastructure is supporting sustained, multi-year demand for high-quality construction steel.

Entry into a Quality-Sensitive Segment

Within the broader construction steel market, demand is growing rapidly for high-strength and high-ductility TMT grades. These products are increasingly specified for government and public sector infrastructure projects, where quality and compliance standards remain critical.

With the BIS licence now in place, Rhetan TMT has entered this fast-growing and quality-sensitive segment of the domestic steel market.

About Rhetan TMT

Rhetan TMT Ltd is a Gujarat-based manufacturer of TMT steel bars and Construction steel products. The company caters to the infrastructure, residential and commercial construction sectors and focuses on producing high-quality steel products through modern manufacturing facilities.

The company continues to invest in operational efficiency and sustainable manufacturing initiatives through renewable energy adoption, product quality enhancement and capacity improvements. Its strategic focus remains on strengthening its position in India's growing infrastructure and construction industry.

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Disclaimer: The article is for informational purposes only and not investment advice.