Rama Steel Tubes jumps after initiating capacity expansion at Khopoli Plant
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Rama Steel Tubes is currently trading at Rs. 38.61, up by 0.63 points or 1.66% from its previous closing of Rs. 37.98 on the BSE.
The scrip opened at Rs. 37.99 and has touched a high and low of Rs. 38.70 and Rs. 37.83 respectively. So far 166671 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 46.10 on 10-Jan-2023 and a 52 week low of Rs. 26.10 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 38.70 and Rs. 35.69 respectively. The current market cap of the company is Rs. 1942.92 crore.
The promoters holding in the company stood at 57.14%, while Institutions and Non-Institutions held 1.02% and 41.84% respectively.
Rama Steel Tubes has initiated a strategic backward integration expansion to the tune of around 40,000 MTPA at its plant located at Khopoli, Maharashtra. The expansion is expected to be completed by the end of Q4FY25, post which commercial production will commence.
The company is setting up state of the art cold rolling mill and steel sheet galvanizing facility to cater the in house requirement of raw material. The total Capex for this expansion will be around Rs 30 crore and will be funded through internal accruals of the company.
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.
