This stock has given more than 50 per cent returns in just 6 months, do you own it?
The stock is experiencing heavy fresh buying as spurt in volume was more than 4 times on session today.
Shares of Hariom Pipe Industries Ltd, were trading at all time high at Rs 320 after soaring more than 10 percent on Friday’s session. The stock is experiencing heavy fresh buying as spurt in volume was more than 4 times on session today. It has given stellar returns of 57 per cent in just 6 months.
The share price is gaining majorly due to positive results and the commencement of production at a new plant, set up by the company recently. It has posted robust financials for the quarter ended September 30, 2022, as sales grew by 11 per cent and net profit by 28 per cent compared to same quarter of previous financial year. It will start the production from today from its new 15-ton capacity plant, to cater to the increasing demand.
Hariom Pipe Industries Ltd was incorporated in 2007 and is headquartered in Hyderabad. It is among one of the fully integrated manufacturers in the steel sector and has a strong footprint in the southern part of India. It is engaged in the business of producing Mild Steel, Billets, Pipes, Hot Rolled Coils and other products which act as raw material for other industries. It has currently more than 200 distributors in the southern part of India and sell the product under the brand name of Hariom Pipes.
Investors should keep an eye on this stock.