Ratnamani Metals bags Rs. 78 crore orders from O&G sector

The company received domestic orders for supply of CS Coated Pipes and Stainless Steel Tubes/Pipes, the company informed on Wednesday.

The orders consist of new domestic orders from the Oil & Gas sector of approx. Rs.78.00 crore to be completed between July 2019 to March 2020 for the supply of CS Coated Pipes and two orders totalling to approximately Rs.78.00 crore to be completed by October 2019 for the supply of stainless steel tubes/pipes.

Also, the company notified that credit rating agency Crisil Limited has reaffirmed ratings for the company's outstanding debt facilities. Its total bank loan facilities of Rs. 2,200 crores, which was enhanced from Rs. 856 crore was rated CRISIL AA / Stable (Reaffirmed) for the long-term and CRISIL A1+ (Reaffirmed) for the short-term.

Ratnamani Metals & Tubes Limited engages in the production stainless steel, nickel alloy titanium welded tubes, carbon steel, coating solutions and induction bending

On Wednesday, at 14:13 hours, the stock of Ratnamani Metals was trading at Rs. 890.00, down by Rs. 5.00 or 0.56 per cent on BSE. Meanwhile, the benchmark index BSE Sensex was at 38,698.91, down by 240.31 points or 0.62 per cent.