High ROE High ROCE multibagger stock: Shares of this small-cap iron and steel company makes a new 52-week high!
Shares of the company have gained more than 2 per cent in the morning trade.
Hariom Pipe Industries Limited is an integrated steel manufacturer with a stronghold in the South Indian market. It has a diverse product portfolio consisting of Mild Steel Billets, Pipes and Tubes, Hot Rolled Coils, and Scaffolding Systems, the company’s top-quality products cater to a variety of industrial applications across multiple sectors.
The revenue of the company is expected to grow significantly from fiscal 2024 with the completion of capex and the new capacity. The installed capacity for MS tubes will increase from 84000 MTPA to 1.32 lakhs MTPA in fiscal 2024 and the galvanized pipe unit with a capacity of 3 lakh MTPA will also be operational from fiscal 2024 which will drive the revenue growth ahead.
Today, the share of Hariom Pipe Industries made a new 52-week high, while Sensex and Nifty both are trading in the red.
The stock opened at Rs 1649, with a high and low of Rs 1649 and Rs 1561.10. Currently, the stock is trading at Rs 1572.55, up by 1.63 per cent.
Hariom Pipe Industries Limited has delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 242.55 on April 18, 2022, to Rs 520 on April 18, 2023, an increase of 112 per cent in one year holding period.