Ratnamani Metals firms up after winning orders

Ratnamani Metals & Tubes rose 4.15% to Rs 777 at 14:05 IST on BSE after the company said it bagged two new orders aggregating to Rs 328 crore.

The announcement was made during trading hours today, 15 June 2017.

Meanwhile, the S&P BSE Sensex was down 69.31 points, or 0.22% to 31,086.60.

On the BSE, 3,277 shares were traded in the counter so far, compared with average daily volumes of 3,600 shares in the past one quarter. The stock had hit a high of Rs 795 and a low of Rs 754.50 so far during the day. The stock hit a record high of Rs 832 on 25 April 2017. The stock hit a 52-week low of Rs 479.05 on 24 June 2016.

The stock had underperformed the market over the past one month till 14 June 2017, falling 6.26% compared with 1.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 1.56% as against Sensex's 5.31% rise. The scrip had outperformed the market in past one year, rising 49.06% as against Sensex's 16.57% rise.

The mid-cap company has equity capital of Rs 9.35 crore. Face value per share is Rs 2.

Ratnamani Metals & Tubes said the orders includes supply of HSAW pipes worth Rs 116 crore and ERW pipes worth Rs 212 crore for oil and gas pipelines to be completed by December 2017-January 2018.

Net profit of Ratnamani Metals & Tubes declined 14.99% to Rs 39.82 crore on 23.38% decline in net sales to Rs 388.43 crore in Q4 March 2017 over Q4 March 2016.

Ratnamani Metals & Tubes is a multi-location, multi-product company, in India, manufacturing tubes & pipes in stainless steel/exotic material and also carbon steel pipes, in wide size ranges, for wide spectrum of applications.

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