📈 Live Market Tracking
Every NSE and BSE corporate filing, read and explained by AI within minutes — impact, key figures, short/long-term view and what to watch.
Live · AI analyzer runs every 5 min (07:00–23:55 IST)
Latest filing: 2026-08-19 18:09
0 analysed today
0
Today
134,360
All-time analysed
40,200
Positive
6,287
Negative
80,027
Neutral
7,778
Watch
📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
15 announcements match the current filters (relevance ≥ 5).
Rhetan TMT Commences Power Generation from 1 MW Captive Solar Plant in Gujarat
Rhetan TMT Limited has successfully operationalized its 1 MW (AC) captive ground-mounted solar power project at its manufacturing facility in Kadi, Gujarat. The company has completed all statutory approvals, infrastructure setup, testing, and commissioning. Power generated from this unit will be utilized entirely for captive consumption to meet energy requirements at the Kadi plant. This renewable energy integration is aimed at reducing power costs and improving manufacturing operational efficiency.
Confidence: HIGH
What changedThe company's 1 MW captive solar power project has fully transitioned from commissioning to active power generation.
Why it mattersCaptive solar generation lowers grid power dependency and reduces power operating costs for the steel/TMT manufacturing facility in Kadi.
Solar Project Capacity: 1 MW (AC)Plant Location: Kadi, GujaratTTM Revenue Context: ₹9 cr
📅 Short termMarginal positive sentiment as the project is commissioned on schedule without reported regulatory roadblocks.
📈 Long termSupports operating margin sustainability by reducing per-unit power and fuel costs in steel manufacturing over upcoming quarters.
⚠ Risk flags
- Actual power generation efficiency subject to local solar irradiance and maintenance uptime
Key Highlights
Commissioned 1 MW (AC) ground-mounted captive solar power project
Facility located at manufacturing unit in Kadi, Mehsana district, Gujarat
Transitioned from commissioning stage to active power generation for captive use
Follows earlier corporate communication dated August 6, 2026
👀 What to Watch
Monitor upcoming quarterly results to assess power and fuel cost savings from captive solar operations against total manufacturing expenses.
Rhetan TMT to Expand Capacity by 66% to 75,000 MTPA; Q1 PAT Jumps to ₹3.16 Cr
Rhetan TMT has approved a significant capacity expansion at its Kadi, Gujarat facility, increasing production from 45,000 MTPA to 75,000 MTPA. For Q1 FY27, the company reported a standalone PAT of ₹3.16 cr, up from ₹0.76 cr in the same quarter last year, although this was heavily supported by ₹4.45 cr in other income. The board also proposed increasing borrowing and investment limits from ₹200 cr to ₹300 cr each, representing a substantial potential increase in leverage. Additionally, the Managing Director has been re-appointed for a five-year term starting January 2027.
Confidence: HIGH
What changedThe company is initiating a major capacity expansion and seeking to increase its financial headroom by raising borrowing and investment limits by ₹100 cr each.
Why it mattersThe 66% capacity hike indicates a growth phase for the company, though the high borrowing limit relative to current revenue (₹300 cr limit vs ~₹24 cr FY26 revenue) suggests a potential for high leverage or major future investments.
Capacity Expansion: 66.7%Q1 FY27 Revenue: ₹4.06 crQ1 FY27 PAT: ₹3.16 crOther Income: ₹4.45 crNew Borrowing Limit: ₹300 crBorrowing Limit vs M-Cap: ~15.1%
📅 Short termThe expansion news and profit growth are likely to be viewed positively by the market in the coming days.
📈 Long termLong-term value depends on the company's ability to utilize the new 75,000 MTPA capacity and transition from 'Other Income' reliance to core operational profitability.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Profitability heavily dependent on non-operational 'Other Income'
- Significant increase in borrowing limits relative to current revenue scale
- Related party transactions approved for the upcoming AGM
Key Highlights
Manufacturing capacity to be enhanced by 66.7% from 45,000 MTPA to 75,000 MTPA
Q1 FY27 Net Profit rose to ₹3.16 cr compared to ₹0.76 cr in Q1 FY26
Proposed increase in borrowing limits from ₹200 cr to ₹300 cr, subject to AGM approval
Other income of ₹4.45 cr exceeded revenue from operations of ₹4.06 cr during the quarter
Managing Director Shalin Ashok Shah re-appointed for a 5-year term effective January 2027
👀 What to Watch
Investors should monitor the execution timeline for the 30,000 MTPA capacity addition and seek clarity on the nature of 'Other Income' which currently drives the majority of the bottom line.
66% Capacity Expansion: Rhetan TMT to Increase Output to 75,000 MTPA
Rhetan TMT has approved a significant capacity expansion at its Kadi, Gujarat manufacturing facility, increasing production from 45,000 MTPA to 75,000 MTPA. This 66.7% increase in capacity is intended to capitalize on the Government of Gujarat's recent industrial policy. The company will now initiate the procurement of plant and machinery to implement this growth strategy. Given the company's current TTM revenue of just Rs 5 Cr, this expansion represents a major attempt to scale operations and justify its high market valuation.
Confidence: HIGH
What changedThe company has moved from a steady-state production limit of 45,000 MTPA to an active expansion phase targeting 75,000 MTPA.
Why it mattersWith a current P/E of 2617 and low TTM revenue of Rs 5 Cr, the company needs massive volume growth to improve its financial fundamentals and justify its Rs 1984 Cr market capitalization.
Existing Capacity: 45,000 MTPAProposed Capacity: 75,000 MTPACapacity Increase (%): 66.7%TTM Revenue: Rs 5 CrMarket Cap: Rs 1984 Cr
📅 Short termThe announcement is likely to be viewed positively by the market as a growth signal, though the lack of specific capex figures and timelines may temper immediate enthusiasm.
📈 Long termIf executed successfully and demand is captured, this expansion could significantly re-rate the company's revenue profile, which has seen a sharp decline from FY24 levels.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in commissioning new machinery
- Funding source for expansion not disclosed
- High valuation risk (P/E > 2600)
Key Highlights
Production capacity to be enhanced from 45,000 MT per annum to 75,000 MT per annum
Total capacity addition of 30,000 MT per annum, representing a 66.7% increase
Expansion located at the existing facility in Kadi, Gujarat
Board has authorized the Managing Director to initiate procurement of plant and machinery immediately
👀 What to Watch
Watch for future disclosures regarding the total capital expenditure (Capex) required for this expansion and the source of funding. Investors should also monitor the timeline for commissioning the new capacity to see when it will reflect in the revenue.
66.7% Capacity Expansion to 75,000 MTPA and Q1 Net Profit Up 316% YoY
Rhetan TMT has approved a significant capacity expansion at its Kadi, Gujarat facility, increasing TMT bar production from 45,000 MTPA to 75,000 MTPA. For Q1 FY27, the company reported a 316% YoY surge in net profit to ₹3.16 cr, although this was primarily driven by ₹4.45 cr in 'Other Income' as operational revenue declined 19.4% YoY to ₹4.06 cr. The board also proposed increasing borrowing and investment limits from ₹200 cr to ₹300 cr each, signaling potential for further capital deployment.
Confidence: HIGH
What changedThe company is initiating a 66.7% scale-up of its production capacity and seeking shareholder approval to increase its financial leverage and investment limits by 50%.
Why it mattersThe expansion is critical for a company with currently low operational revenue (₹4.06 cr in Q1) to achieve economies of scale, while the ₹300 cr borrowing limit suggests a massive headroom for future growth relative to its current TTM revenue.
Capacity Expansion: 66.7%Q1 Net Profit Growth (YoY): 316.6%Other Income (Q1): ₹4.45 crProposed Borrowing Limit: ₹300 crRevenue from Operations (Q1): ₹4.06 cr
📅 Short termThe stock may react positively to the aggressive expansion plans and the high headline profit growth, despite the operational revenue dip.
📈 Long termSuccess depends on the company's ability to utilize the new 75,000 MTPA capacity to drive core operational revenue and reduce dependence on non-operating income.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High reliance on Other Income for profitability
- Operational revenue decline of 19.4% YoY
- Significant increase in borrowing limits relative to current small revenue base
Key Highlights
Manufacturing capacity to be enhanced by 30,000 MTPA, reaching a total of 75,000 MTPA
Net Profit increased to ₹3.16 cr in Q1 FY27 compared to ₹0.76 cr in Q1 FY26
Proposed increase in borrowing limits by ₹100 cr to a total of ₹300 cr
Other Income of ₹4.45 cr significantly exceeded Revenue from Operations of ₹4.06 cr
Re-appointment of Managing Director Shalin Ashok Shah for a 5-year term starting Jan 2027
👀 What to Watch
Investors should monitor the execution timeline for the 30,000 MTPA capacity addition and investigate the sustainability of 'Other Income', which currently accounts for the majority of the company's profit.
1 MW Captive Solar Project Commissioned; Power Costs are ~20% of Total Costs
Rhetan TMT has successfully completed the testing and commissioning of its 1 MW (AC) captive ground-mounted solar power project. The project has achieved operational readiness, with commercial power generation expected to commence shortly. This is a strategic move to manage power costs, which currently represent approximately 20% of the company's total cost base. Given the company's recent revenue decline to a TTM of Rs 5 Cr, this cost-saving measure is critical for improving operational economics.
Confidence: HIGH
What changedThe company has transitioned its 1 MW solar project from the installation and testing phase to full operational readiness.
Why it mattersBy generating its own power, the company reduces its dependence on the grid and hedges against rising energy costs, which are a major expense (20%) in TMT bar manufacturing.
Solar Project Capacity: 1 MW (AC)Power Cost as % of Total: ~20%TTM Revenue: Rs 5 CrMarket Cap: Rs 2492 CrTTM PAT: Rs 1 Cr
📅 Short termThe news is sentimentally positive as it demonstrates project execution and a focus on cost-efficiency.
📈 Long termProvides a structural cost advantage in energy-intensive steel manufacturing, though the company needs to significantly scale its core revenue to justify its current market valuation.
⚠ Risk flags
- Extremely high P/E ratio (3287.0)
- Significant decline in revenue from ~Rs 30 Cr per quarter in early 2024 to Rs 5 Cr TTM
- Small scale of the solar project (1 MW) relative to the market cap
Key Highlights
1 MW (AC) captive ground-mounted solar power project successfully commissioned
Power costs account for approximately 20% of the company's overall cost base
Project has achieved full operational readiness as of August 6, 2026
TTM revenue stands at Rs 5 Cr, making the 1 MW project significant relative to current small-scale operations
Commercial power generation expected to start shortly following final operational formalities
👀 What to Watch
Monitor the impact on Operating Profit Margins (OPM) in the next two quarters to quantify the actual savings from solar power. Investors should also watch for a recovery in top-line revenue, which has seen a sharp decline from FY24 levels.
Rhetan TMT Secures BIS Certification for Premium Grades; Eligible for Govt & PSU Projects
Rhetan TMT has received Bureau of Indian Standards (BIS) certification for premium high-strength TMT grades Fe500D, Fe550, and Fe550D. This regulatory milestone makes the company eligible to supply steel to Government and PSU infrastructure projects, including highways, railways, and bridges, which was previously an inaccessible market. Given the company's small TTM revenue of ‡5 Cr against a market cap of ‡2203 Cr, this opening of a new addressable market is a significant strategic shift. The company aims to capture a share of India's ‡11 lakh crore annual infrastructure capital expenditure.
Confidence: HIGH
What changedThe company has transitioned from a retail-focused TMT manufacturer to a certified supplier for large-scale public infrastructure and government projects.
Why it mattersThis certification removes a major barrier to entry, allowing the company to compete for high-volume, high-value government contracts that were previously out of reach, potentially addressing its low revenue base.
Annual Govt Capex Target: ‡11 lakh croreTTM Revenue: ‡5 CrMarket Cap: ‡2203 CrSteel Demand Growth: 8-9% annuallyNational Steel Policy Target: 300 million tonnes by 2030-31
📅 Short termThe news is likely to be viewed positively by the market as it validates product quality and expands the business horizon, though actual revenue impact will take time to materialize through bidding cycles.
📈 Long termIf successfully executed, this allows the company to scale significantly by participating in India's long-term infrastructure build-out, potentially improving its currently thin margins and revenue.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Extremely high P/E ratio (2906.0)
- Execution risk in competitive government bidding
- High sensitivity to raw material price volatility
Key Highlights
Secured BIS license for premium grades Fe500D, Fe550, and Fe550D, expanding beyond the basic Fe500 grade.
Gains eligibility to participate in government infrastructure projects funded by a ‡11 lakh crore annual capex budget.
Targets a domestic steel demand growth rate of 8-9% annually.
Strategic location in Kadi, Gujarat, positions the company near major west-coast growth corridors.
Certification distinguishes the company from the unorganized segment, moving it into the specification-grade producer league.
👀 What to Watch
Monitor the company's upcoming quarterly results for any uptick in order book or revenue specifically from government or PSU contracts. Investors should evaluate if the company can scale its ‡5 Cr TTM revenue to justify its current high valuation.
Rhetan TMT Secures BIS Certification for Premium Fe500D, Fe550, and Fe550D Steel Grades
Rhetan TMT has received Bureau of Indian Standards (BIS) certification for high-strength TMT grades (Fe500D, Fe550, and Fe550D), a critical milestone that qualifies the company to supply to Government and PSU infrastructure projects. This development expands the company's addressable market from basic housing to large-scale public works like highways, bridges, and metros. Given the company's current TTM revenue of just ₹5 Cr against a market cap of ₹2203 Cr, this certification is a necessary step to scale operations and justify its high valuation. The company can now target a portion of the government's ~₹11 lakh crore annual infrastructure capital expenditure.
Confidence: HIGH
What changedThe company has transitioned from a basic TMT manufacturer to a BIS-certified supplier of premium, high-strength steel grades required for national infrastructure.
Annual Govt Capex Target: ~₹11 lakh croreTTM Revenue: ₹5 CrMarket Cap: ₹2203 CrSteel Demand Growth: 8-9% annuallyNational Steel Policy Target: 300 million tonnes by 2030-31
📅 Short termThe announcement is likely to be viewed positively by the market as it validates product quality and opens new revenue streams.
📈 Long termThis is a structural shift that allows the company to compete in the organized sector for high-value infrastructure projects, essential for long-term revenue growth.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Extremely high P/E ratio (2906.0)
- Very low current revenue base (₹5 Cr) relative to market cap
- Execution risk in winning competitive government tenders
Key Highlights
Secured BIS license for premium high-strength grades: Fe500D, Fe550, and Fe550D.
Now eligible to bid for Government and PSU infrastructure projects previously beyond its reach.
Targets India's domestic steel demand which is expanding at 8-9% annually.
Positions the company to benefit from the Union Government's ~₹11 lakh crore annual capital expenditure.
Expands product portfolio from basic Fe500 to a full spectrum of high-ductility steel products.
👀 What to Watch
Monitor upcoming quarterly results for any new order wins specifically from government or PSU entities. Investors should track if the company can significantly scale its revenue from the current ₹5 Cr base to match its ₹2203 Cr market capitalization.
Rhetan TMT Promoters Declare Zero Encumbrance on 49.5 Crore Shares for FY26
Shalin Ashok Shah, representing the promoter group of Rhetan TMT Limited, has submitted a formal declaration under SEBI Takeover Regulations. The disclosure confirms that the promoter group held 495,000,000 equity shares as of March 31, 2026. Crucially, the filing states that no shares were encumbered or pledged, directly or indirectly, during the financial year 2025-26. This annual compliance provides transparency regarding the stability of the promoter's stake in the company.
Key Highlights
Promoter group held a total of 495,000,000 equity shares as of March 31, 2026.
Declaration confirms zero encumbrance or pledge of shares during the entire financial year ended March 31, 2026.
Submission made in compliance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The disclosure was filed by Shalin Ashok Shah, Promoter and Managing Director of the company.
👀 What to Watch
Investors should view the lack of pledged shares as a positive indicator of promoter financial health and commitment. No immediate action is required, but this confirms the absence of 'pledge-related' volatility risks for the stock.
Rhetan TMT Expands Business Scope to Include Global Commodity Trading and Derivatives
Rhetan TMT Limited has received shareholder approval via a special resolution on March 18, 2026, to significantly expand its business operations. The company is amending its Memorandum of Association (MoA) to include trading, importing, exporting, and hedging across a wide range of commodities including metals, bullion, energy, and agricultural products. This strategic move allows the company to engage in spot, forward, and derivative markets both in India and internationally, diversifying its revenue streams beyond its core TMT operations.
Key Highlights
Shareholders approved the insertion of Clause III [A] (5) into the MoA via postal ballot on March 18, 2026.
New business scope covers trading in precious and base metals, bullion, minerals, energy products, and soft/hard commodities.
Authorization includes arbitrage, hedging, and dealing in commodity-linked contracts on recognized and unrecognized markets globally.
The expansion allows for physical trading as well as participation in futures, options, and other derivative instruments.
👀 What to Watch
Investors should watch for upcoming capital allocation plans and the recruitment of specialized talent for the new commodity trading desk. While diversification offers growth potential, the volatile nature of commodity markets and derivatives requires careful monitoring of the company's risk management practices.
Rhetan TMT Shareholders Approve MoA Object Clause Alteration with 99.99% Majority
Rhetan TMT Limited has successfully passed a special resolution to alter the Object Clause of its Memorandum of Association (MoA) via a postal ballot. The voting process, which concluded on March 18, 2026, saw a total turnout of 68.02% of the share capital. The resolution received near-unanimous approval, with 54,20,62,245 votes in favor and only 750 votes against. This regulatory step typically precedes a company's entry into new business lines or expansion of its current operational scope.
Key Highlights
Special Resolution for Alteration (Addition) in the Object Clause of MoA passed with 99.9999% majority.
Total votes polled were 54,20,62,995, representing 68.02% of the total outstanding shares.
Promoter and Promoter Group showed 100% support, casting 49,50,00,000 votes in favor.
Public non-institutional shareholders cast 4,68,67,863 votes with a 99.9984% favor rate.
The voting was conducted via remote e-voting between February 17 and March 18, 2026.
👀 What to Watch
Investors should monitor upcoming disclosures to identify the specific new business activities the company intends to pursue. This MoA change is a strategic indicator of potential diversification or expansion beyond existing TMT manufacturing.
Rhetan TMT Shareholders Approve MoA Object Clause Alteration with 99.99% Majority
Rhetan TMT Limited has successfully passed a special resolution to alter the Object Clause of its Memorandum of Association via a postal ballot process. The resolution received overwhelming support, with 99.99% of the 542.06 million votes cast in favor of the change. While the specific new business activities were not detailed in this filing, such alterations typically signal a company's intent to diversify or expand its operational scope. The promoter group demonstrated full support, contributing 495 million votes to the total.
Key Highlights
Special resolution to alter the Object Clause of the Memorandum of Association passed with 99.99% majority.
Total votes polled were 542,062,995, representing approximately 68.02% of the total voting power.
Promoter group cast 495,000,000 votes, all of which were in favor of the resolution.
Public non-institutional shareholders cast 46,867,863 votes, with only 750 votes against the proposal.
👀 What to Watch
Investors should monitor subsequent disclosures to understand the specific new business lines the company intends to enter following this MoA alteration. The near-unanimous shareholder approval reflects strong confidence in the management's strategic direction.
Rhetan TMT Proposes Expansion into Global Commodity Trading and Derivatives
Rhetan TMT Limited has issued a postal ballot notice to seek shareholder approval for a significant amendment to its Memorandum of Association. The company intends to diversify its operations by entering the commodity trading business, covering agricultural products, metals, energy, and bullion. This expansion includes physical trading as well as hedging and arbitrage through derivatives in both Indian and international markets. The e-voting period for this special resolution is scheduled from February 17 to March 18, 2026.
Key Highlights
Proposed addition of Clause III [A] (5) to the MoA to enable comprehensive commodity trading operations.
Business scope includes precious and base metals, minerals, energy products, and agricultural commodities.
Authorization sought for trading via spot, forward, futures, options, and other derivative contracts globally.
Remote e-voting period runs from February 17, 2026, to March 18, 2026, with results by March 20, 2026.
The cut-off date for eligibility to vote is February 13, 2026.
👀 What to Watch
Investors should monitor the company's capital allocation strategy for this new segment, as commodity trading and derivatives carry higher risk profiles than core TMT manufacturing. Watch for management commentary on how this diversification will impact overall margins and working capital.
Rhetan TMT Board Approves MOA Amendment to Enter Commodity Trading Business
Rhetan TMT Limited's Board of Directors met on February 12, 2026, and approved a significant amendment to the company's Memorandum of Association (MOA). The amendment involves inserting a new main object clause to allow the company to venture into trading, hedging, and investing in various commodities. This includes precious metals, bullion, energy products, and agricultural commodities across physical and derivative markets. The expansion is subject to shareholder approval via a postal ballot e-voting process.
Key Highlights
Board approved the insertion of Clause III [A] (5) into the Main Object Clause of the MOA.
New business scope includes trading in metals, bullion, minerals, energy, and agricultural products.
Authorized to deal in physical forms as well as spot, forward, futures, and options contracts.
The diversification strategy covers both domestic and international commodity markets.
The amendment is pending final approval from shareholders through a postal ballot.
👀 What to Watch
Investors should monitor the company's capital allocation towards this new segment and assess the potential impact on margins. It is advisable to wait for clarity on the scale of operations and risk management strategies for commodity trading.
Rhetan TMT Q3 Net Profit Surges 220% YoY to ₹4.45 Cr; Proposes Entry into Commodity Trading
Rhetan TMT reported a robust Q3 FY26 with net profit jumping 220% year-on-year to ₹4.45 crore, primarily driven by a significant spike in other income. While revenue from operations showed a slight 3.5% YoY decline to ₹6.15 crore, it grew 29% on a sequential basis. The company is also seeking shareholder approval via postal ballot to diversify its business into trading and hedging of various commodities, including metals and bullion. For the nine-month period ended December 2025, the company has already surpassed its full-year FY25 profit, reaching ₹8.08 crore.
Key Highlights
Net Profit for Q3 FY26 rose to ₹444.78 Lakh compared to ₹139.05 Lakh in Q3 FY25, a 220% increase.
Total Income for the quarter stood at ₹932.72 Lakh, bolstered by ₹317.24 Lakh in Other Income.
9M FY26 Net Profit reached ₹807.93 Lakh, nearly doubling the ₹446.55 Lakh recorded in the same period last year.
Board approved an amendment to the Memorandum of Association to include trading in agricultural and non-agricultural commodities, metals, and bullion.
Earnings Per Share (EPS) for the quarter improved to ₹0.06 from ₹0.02 in the previous year's corresponding quarter.
👀 What to Watch
Investors should monitor the sustainability of the high 'Other Income' and the strategic execution of the proposed commodity trading business. The strong bottom-line growth is encouraging, but core manufacturing revenue growth remains a key metric to watch.
Rhetan TMT Q3 Net Profit Jumps 220% YoY to ₹4.45 Cr; Board Approves Commodity Trading Entry
Rhetan TMT reported a robust net profit of ₹444.78 Lakh for Q3 FY26, a 220% increase from ₹139.05 Lakh in Q3 FY25, despite a slight dip in operational revenue. The bottom line was significantly bolstered by 'Other Income' which rose to ₹317.24 Lakh during the quarter. Additionally, the company is diversifying its business model by entering the commodity trading sector, covering metals, minerals, and agricultural products. This strategic expansion will be finalized following a postal ballot for shareholder approval.
Key Highlights
Net Profit increased 220% YoY to ₹444.78 Lakh in Q3 FY26 from ₹139.05 Lakh.
Other Income spiked to ₹317.24 Lakh compared to just ₹0.50 Lakh in the same quarter last year.
Nine-month FY26 profit reached ₹807.93 Lakh, already surpassing the full-year FY25 profit of ₹494.90 Lakh.
Board approved a new business vertical for trading, importing, and hedging in various commodities including metals and energy.
Quarterly EPS tripled from ₹0.02 to ₹0.06 on a year-on-year basis.
👀 What to Watch
The sharp rise in profit is encouraging, though heavily dependent on non-operational income this quarter; investors should monitor the execution of the new commodity trading segment as a growth driver.
