Rama Steel Tubes climbs on getting nod to incorporate new company
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Rama Steel Tubes is currently trading at Rs. 13.78, up by 0.31 points or 2.30% from its previous closing of Rs. 13.47 on the BSE.
The scrip opened at Rs. 13.90 and has touched a high and low of Rs. 14.18 and Rs. 13.65 respectively. So far 2623860 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 17.51 on 09-Sep-2024 and a 52 week low of Rs. 9.91 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 14.18 and Rs. 12.01 respectively. The current market cap of the company is Rs. 2149.50 crore.
The promoters holding in the company stood at 47.96%, while Institutions and Non-Institutions held 0.17% and 51.87% respectively.
Rama Steel Tubes has received approval for the incorporation of a new company with an investment of 10% in the name and style of ‘ONIX IPP’ or any other name as may be approved by the Ministry of Corporate Affairs. The proposed company to be incorporated in India shall carry out business in the field of Green Energy / Renewable Energy. The Acquisition and Allotment Committee of the company at its meeting held on December 02, 2024, have approved the same.
Rama Steel Tubes is a leading player engaged in the manufacturing and trading of Steel Tubes & Pipes and Rigid PVC (Poly Vinyl Chloride) & G.I. (Galvanised Iron) Pipes in India as well as in the world.
