Hariom Pipe Industries zooms on setting up 15 ton electric melting furnace
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Hariom Pipe Industries is currently trading at Rs. 313.70, up by 27.55 points or 9.63% from its previous closing of Rs. 286.15 on the BSE.
The scrip opened at Rs. 287.20 and has touched a high and low of Rs. 319.40 and Rs. 287.20 respectively. So far 130378 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 319.40 on 25-Nov-2022 and a 52 week low of Rs. 169.35 on 11-May-2022.
Last one week high and low of the scrip stood at Rs. 319.40 and Rs. 264.05 respectively. The current market cap of the company is Rs. 803.77 crore.
The promoters holding in the company stood at 66.03%, while Institutions and Non-Institutions held 3.07% and 30.89% respectively.
Hariom Pipe Industries has completed the setting up of its 15 ton electric melting furnace and the commercial production is all set to commence from November 25, 2022. This will increase the company’s production of MS Billets from the current 95,832 MTPA to 1,04,232 MTPA. This is in line with the objects as set out in the company’s prospectus at the time of its maiden IPO.
Hariom Pipe Industries is an integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron.
