Goodluck India Limited, formerly known as Goodluck Steel Tubes Ltd, has taken a significant step forward in its expansion journey. The company announced the commencement of commercial production at its state-of-the-art hydraulic tubes manufacturing plant located in Sikandarabad, Uttar Pradesh, effective January 01, 2025.
Goodluck India is a leading manufacturer of sheets, pipes, engineering and fabricated structures, forgings, and automobile tubes. With five manufacturing units in Sikandarabad, Uttar Pradesh, and a recently operational facility in Kutch, Gujarat, the company boasts a total installed capacity exceeding 412,000 tonnes per annum.
The new plant in Sikandarabad is equipped with advanced technologies to produce high-quality hydraulic tubes, catering to the growing demands of the industrial and automotive sectors. The company had earlier projected the plant’s commencement in the first week of January 2025, and it has successfully adhered to its timeline. The highly specialized hydraulic tubes will replace seamless tubes and act as an import substitute thereby leading to significant savings on foreign exchange. Strong demand for hydraulic tubes to boost the company’s topline and bottom line.
Following the announcement, Goodluck India’s share price witnessed a 4.5% jump on NSE as of 1:40 PM on January 01, 2025. The stock, after registering back-to-back gains from 2021 to 2023, snapped its winning streak by logging a marginal loss of 1.21% in 2024. However, it has seen a positive start in 2025 on the back of recent developments.
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