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Motilal Oswal Funds purchased a 2.5% stake in Hi-Tech Pipes, a small cap company, through an open market transaction on January 20th.
Motilal Oswal Equity Opportunities Fund Series II has 2,00,000 shares ¥937, and Motilal Oswal Business Advantage Fund Serie II purchased 1,00,000 shares ¥936.99 from Hi-Tech Pipes’ open market operations.
Small-cap companies commanded the market capitalization of ¥117.569 billion. Hi-Tech Pipes shares are ¥Friday’s 958.10 was up 1.46%.
Tech Pipe Stocks From 52-Week Lows ¥Once above 323 in June 2022 (23/06/2022), the stock rose about 196.62%. Over the past year, the stock has risen more than 40% and is up 72% over the past six months.
But over the past three years, the company’s share price has risen by more than 400%, making for a short-term return of more than 100%.
In its regulatory filings, the company will review and approve the company’s unaudited financial results for the December quarter, when its board meets on January 28, as well as consider redividing its shares. He said he would.
“The Board will consider any proposed split or split of the company’s stock. ¥10 each in a manner determined by the board,” the company said in a Jan. 10 regulatory filing.
“Unaudited company financial results (standalone and consolidated) for the quarter ended December 31, 2022,” the filing added.
Hi-Tech Pipes is a steel processing company. The company offers products in steel pipes, hollow sections, tubes, cold rolled coils and strips, road crash barriers, solar mounting structures, color coated coils and other galvanized products.
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