Solar Multibagger Penny Stock Under Rs 15: Board Approved Acquisition of Bigwin Buildsys Coated Private Limited
The stock is up by 31 per cent from its 52-week low of Rs 9.91 per share and gave multibagger returns of over 2,700 per cent returns in 5 years whereas BSE Sensex Index is up by 102 per cent.
On Wednesday, shares of Rama Steel Tubes Ltd plunged 1.25 per cent to Rs 13.38 per share from its previous closing of Rs 13.55 per share. The stock’s 52-week high is Rs 17.51 and its 52-week low is Rs 9.91.
The Board of Directors of Rama Steel Tubes Limited approved the acquisition of a 24.81 per cent stake in Bigwin Buildsys Coated Private Limited through a share swap deal. The acquisition is valued at Rs 7.51 crore and is aimed at diversifying the company's business into green energy solutions, particularly solar structures. This strategic move is expected to enhance the company's growth prospects and strengthen its position in the market.
Additionally, Rama Steel Tubes Limited (RSTL) has made significant strides in strengthening its financial position and expanding its business horizons. The company has successfully reduced its debt burden by a substantial 64.16 per cent, demonstrating a strong commitment to financial discipline and efficiency. Furthermore, RSTL's strategic partnership with Onix Renewable Ltd. marks its entry into the renewable energy sector, aligning with global sustainability efforts. By leveraging its expertise in steel fabrication, RSTL aims to contribute to the growth of renewable energy projects. Additionally, the incorporation of Rama Defence Private Limited signifies the company's strategic expansion into the defence sector, opening up new avenues for growth and diversification.
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About Rama Steel Tubes Limited
Rama Steel Tubes Ltd (RSTL) established in 1974 has been India’s pioneer Manufacturer of Steel Tubes for the last 50 years. Our multi-product offerings include vast varieties of pre-galvanized tubes, structural tubes, MS black and galvanized tubes and hollow sections, making RAMA one of the leading branded steel product manufacturers in India. With our state-of-the-art manufacturing facilities spread across 4 different locations, Rama is committed to strengthening India’s infrastructural backbone.
The company have a market cap of over Rs 2,000 crore and has delivered good profit growth of 28.3 per cent CAGR over the last 5 years. The stock is up by 31 per cent from its 52-week low of Rs 9.91 per share and gave multibagger returns of over 2,700 per cent returns in 5 years whereas BSE Sensex Index is up by 102 per cent. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.