The multibagger company’s share price has soared by more than 120% in the past six months.
A sharp decline soon followed after India’s benchmark index gains on Thursday. This was largely due to a sharp drop in banking and financial services stocks. Bajaj Finance was the worst performer of the Sensex constituents, with losses of 6-7% more than his. Most sectors are trading on the downside, with front-loaded rates favoring a fall.
Rama Steel Tubes Ltd, small cap The company had attracted investor interest prior to the record date for bonus issuance. The record date for determining the eligibility of shareholders to issue bonus shares at a 4:1 ratio has been set by the Board of Directors to January 6, 2023.
to be multi baggerRama Steel Tubes shares have soared more than 120% over the past six months, hitting a 52-week high yesterday.
The business has just released volume results for the third quarter of 2023. The third quarter of 2023 marked a record sales volume of 53,216.16 tonnes, representing a solid year-on-year growth of 118.34%. The commissioning and start-up of a new capacity expansion at the Kopoli plant (Maharashtra) will significantly increase sales volumes.
The company is valued at almost Rs 160 billion in the market, of which the promoter owns a sizeable 65.40 per cent. Established in 1974, Rama Steel Tubes is India’s leading manufacturer of steel pipes and tubes, rigid PVC pipes and square products.
Keep an eye on this script for future sessions.