FIIs bought 1,24,80,000 shares: Multibagger steel tube manufacturing stock jumps 4.8 per cent; Capacity expansion to 1 million tonnes by FY25

FIIs bought 1,24,80,000 shares: Multibagger steel tube manufacturing stock jumps 4.8 per cent; Capacity expansion to 1 million tonnes by FY25

Kiran Shroff
/ Categories: Trending, Multibaggers

The stock gave multibagger returns of 100 per cent from its 52-week low of Rs 74 per share and a whopping 720 per cent in 5 years.

Today, shares of Hi-Tech Pipes Ltd gained 4.82 per cent to an intraday high of Rs 147.80 per share from its previous closing of Rs 141 per share. The stock’s 52-week high is Rs 170.25 while its 52-week low is Rs 74.

Hi-Tech Pipes Ltd is a leading force in India's steel industry, specializing in the production and distribution of a wide range of steel products. The company's extensive network of over 5,000 retail outlets ensures widespread accessibility to its offerings, catering to a diverse customer base across various sectors. From infrastructure and construction to the automotive, energy and defence industries, Hi-Tech Pipes has established a strong foothold.

Built on a foundation of robust branding and manufacturing excellence, Hi-Tech Pipes has achieved remarkable growth. Its six advanced manufacturing facilities strategically located across India boast a combined capacity of 7,50,000 MTPA. The company's commitment to expansion is evident in its ambitious target of reaching a 1-million-ton capacity by the end of FY25. This strategic approach, coupled with popular brands like Alshakti, Organic, Shakti, and Casewell, has propelled Hi-Tech Pipes to a position of market leadership.

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Financial performance has been exceptional, with the company reporting its highest-ever sales volume in Q1FY25, marking a substantial 45 per cent year-on-year increase. This impressive growth trajectory is a testament to Hi-Tech Pipes' effective marketing strategies, product expansion, and streamlined operations. The company's ability to capitalize on industry trends has been instrumental in solidifying its market dominance.

The company has a market cap of over Rs 2,100 crore. In its Quarterly Results (Q4FY24) and annual results (FY24), the company reported positive numbers with compounded sales growth of 26 per cent and compounded profit growth of 24 per cent for the last 3 years. In July 2024, FIIs bought FIIs bought 1,24,80,000 shares and increased their stake to 8.72 per cent compared to 1.82 per cent in June 2024.  

The stock gave multibagger returns of 100 per cent from its 52-week low of Rs 74 per share and a whopping 720 per cent in 5 years. Investors should keep an eye on this small-cap stock.

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

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