Bonus Issue: This small-cap multibagger stock recently touched a 52-week high after posting the highest sales volume!
Being a multibagger, shares of this company soared over 120 per cent in the past 6 months!
The gains in the Indian benchmark indices on Thursday were quickly followed by a significant decline, which was mostly caused by the heavy losses in the banking and financial services stocks. With losses of more than 6-7 per cent, Bajaj Finance had the worst performance among the Sensex constituents. Most sectors were trading down, with an advance-decline ratio favouring declines.
Rama Steel Tubes Ltd, a Small-Cap company, was attracting investors' interest prior to its record date for bonus issue. The record date for determining the eligibility of shareholders entitled to the issuance of bonus shares in the ratio of 4:1 has been set by the board of directors as January 6, 2023.
Being a multibagger, shares of Rama Steel Tubes soared over 120 per cent in the past 6 months and reached a 52-week high yesterday.
The business just announced Q3FY23 sales volume performance results. It recorded its highest sales volume, 53,216.16 tons, in the third quarter of FY23, representing a robust 118.34 per cent year-on-year growth. Commissioning and starting up of new capacity expansion at Khopoli Plant (Maharashtra) would significantly boost sales volume.
The company is valued nearly at Rs 1,600 crore on the market, of which the promoters own a sizable 65.40 per cent. Incorporated in 1974, Rama Steel Tubes is among India's top producers of steel pipes & tubes, rigid PVC pipes and square section products.
Keep a close eye on this scrip for the upcoming sessions.