Support and Resistance Levels
Past performance
About Nova Iron & Steel Ltd Nova Iron & Steel Ltd, established in 1986, is a prominent player in the Indian steel industry, primarily engaged in manufacturing sponge iron and steel. The company has a comprehensive setup that includes product separation, screening, and storage facilities. Originating from the Nova Group, it was promoted by Nova Magnetics, Nova Electro-Magnetics, and Nova Steels, under R K Gambhir and G K Gambhir.
The company's significant milestones include launching a sponge iron plant at Bilaspur, Madhya Pradesh, in 1994 and pioneering one of India's initial coal-based sponge iron projects. They have leveraged technical expertise from Germany's Lurgi Chemie MetaHurgie Industriebau GmbH. Nova Iron & Steel Ltd augmented its capabilities with a 12 MW Waste Heat Recovery Based Power Plant and Induction Furnace in 2015-16, followed by initiating a 500 TPD Sponge Iron Plant in 2016, enhancing its production capacity and operational efficiency.