Ratnamani Metals gains on bagging two new orders

Ratnamani Metals & Tubes has received two new orders for supply of CS Pipes from the Oil & Gas sector. Following the development, the stock was quoting Rs. 869.65 per share, up by 1.08 per cent, at 11:46 am on Monday.

The first order is worth around Rs. 50 crore to be completed by April 2019. The second order is worth around Rs. 105 crore to be completed by May 2019.

Ratnamani Metals & Tubes is a multi-location, multi-product company, based in India. The company manufactures Tubes & Pipes in Stainless Steel/Exotic material and also Carbon Steel Pipes, in a wide range of size for a wide spectrum of applications in different sectors.

The promoters holding in the company stood at 60.09%, while Institutions and Non-Institutions held 20.05% and 19.86% respectively.

For the last one week, high and low of the scrip stood at Rs. 870.00 and Rs. 838.00 respectively. The current market cap of the company is Rs. 4,020.48 crore.

On Monday's morning session, the stock opened at Rs. 861 per share and touched a high of 870.85, whereas the stock was quoting Rs. 869.65 per share, up by 1.08 per cent, at 11:46 am.