Upper circuit alert: Rama Steel Tubes Limited surges upon bagging new orders from UPPCL

This order entails the supply of no's 2500 electrical poles that amount to 580 MT.

Rama Steel Tubes Limited (RSTL), a domestic company engaged in the manufacturing of Steel Pipes and Tubes and G l Pipes announced today that it has secured a new order worth approximately Rs 4.33 crore from Uttar Pradesh Power Corporation Limited (UPPCL).  

This order entails the supply of no's 2500 electrical poles that amount to 580 MT. Before this order win, the company had also secured an order for no's 7000 poles amounting to-L624 MT from UPPCL. 

This order win is aligned with RTSL’s vision to cater to large scale infrastructure projects in FY22 and result in the strengthening of its order book and enhancement of its credibility in the markets.  

Commenting on this development, Naresh Kumar Bansal, Chairman and Managing Director, Rama Steel Tubes Limited, said that these orders will also help the company in achieving its targeted revenues at a slightly faster rate than what they had anticipated. 

At 11.31 am, the share price of Rama Steel Tubes Limited (RSTL) hit the upper circuit of Rs 311.15, which was set at 10 per cent above the previous day’s closing price of Rs 282.90 on BSE.