FIIs Bought 1,24,80,000 Shares & 1,175 Per Cent Returns: Multibagger Steel Pipes Stock In Focus As Company Achieved Ever Highest Sales Volume; Details Inside

The stock gave multibagger returns of over 151 per cent from its 52-week low of Rs 79.06 per share and a whopping 1,175 per cent in 5 years

Today, shares of Hi-Tech Pipes Ltd gained 3.11 per cent to Rs 198.50 per share from its previous closing of Rs 192.50 per share. The company has a market cap of over Rs 3,400 crore. In July 2024, FIIs bought FIIs bought 1,24,80,000 shares and increased their stake to 8.72 per cent compared to 1.82 per cent in June 2024. The stock gave multibagger returns of over 151 per cent from its 52-week low of Rs 79.06 per share and a whopping 1,175 per cent in 5 years.

Hi-Tech Pipes Limited a leading Steel Tubes and Pipes manufacturing company in India, announced impressive sales volume results for the second quarter and first half of the fiscal year 2025, ending September 30, 2024. The company reported sales volumes of 123,027 MT for Q2FY25, representing a remarkable 22.50 per cent year-on-year (YoY) growth. For the first half of FY25, sales volumes reached 245,182 MT, reflecting an outstanding 32.55 per cent YoY increase.

This growth is primarily driven by a surge in demand across key sectors, including infrastructure, water transportation, and solar energy. Despite the challenges posed by the monsoon season, Hi-Tech has successfully capitalized on opportunities arising from increased government spending in critical Infrastructure projects and Private Investment in renewable energy projects.

About Hi-Tech Pipes Limited.:

One of India’s leading steel processing companies, providing world-class innovative products for nearly four decades with a strong presence in steel pipes, hollow sections, tubes, Solar Torque Tubes, cold rolled coils & strips, road crash barriers, solar mounting structures, GP/GC Sheets, Colour Coated Coils and a variety of other galvanised products. The Company operates Six (6) state-of-the-art integrated manufacturing facilities located at Sikandrabad (UP), Sanand (Gujarat), Hindupur (AP) - near Bangalore, and Khopoli (Maharashtra), with an installed capacity of 7,50,000 MTPA, on a consolidated basis and is on its way to reaching 1million Tones Capacity in FY25. The company has a direct marketing presence in over 20 states with more than 450+ Dealers & distributors across India

According to Quarterly Results, revenue increased by 35 per cent to Rs 867.51 crore and net profit increased by 125 per cent to Rs 18.05 crore in Q1FY25 compared to Q1FY24. In its annual results, the company reported net sales of Rs 2,699 crore and net profit of Rs 44 crore in FY24.

Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.