High momentum was witnessed in this metal company post bagging new orders worth Rs 262 crore!
In its latest press release, the company announced that they have bagged new orders aggregating Rs 262.52 crore, with domestic orders aggregating Rs 233.26 crore and export orders aggregating Rs 29.26 crore.
On Tuesday, shares of Ratnamani Metals and Tubes showed a spurt in volume of more than 1.84 times. On an intraday basis, the scrip opened at Rs 1976.15 from the previous close of Rs 1974.20, to make an intraday high of Rs 2001.25.
In its latest press release, the company announced that they have bagged new orders aggregating Rs 262.52 crore, with domestic orders aggregating Rs 233.26 crore and export orders aggregating Rs 29.26 crore.
Recently, the company announced healthy consolidated Quarterly Results with net sales increasing by 26.43 per cent from the previous quarter last year to Rs 899.82 crore. The EBITDA levels witnessed a growth of 28.62 per cent from September 2021 to stand at Rs 155.03 crore. The company’s net profit rose by 38.11 per cent from the corresponding quarter last year to Rs 98.78 crore.
Ratnamani Metals & Tubes Ltd is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes from its manufacturing facilities in India. The company's product portfolio comprises Nickel Alloy/ Stainless steel seamless tubes & pipes, stainless steel welded tubes & pipes, titanium welded tubes, carbon steel pipes, etc. Presently, the company is the largest manufacturer of stainless steel seamless and in welded pipes and tubes, nickel alloy pipes & tubes and titanium welded tubes. It is also one of the dominant manufacturers of carbon steel welded pipes.
The company has shown good traction this year with shares of the company rising more than 54 per cent on YTD basis. Keep a close eye on this trending company.