Ratnamani Metals rises 3% after SBI MF & Tata MF buy stake via block deal

Ratnamani Metals and Tubes shares rose 3.5 per cent in Thursday's trade and logged an intraday high at Rs 3,444.95 per share. The buying in the stock sparked after SBI Mutual Fund and Tata Mutual Fund bought stakes in the company.

 

As per NSE block deal data, SBI Mutual Funds bought 7,55,000 shares for Rs 3,335 per share and Tata Mutual Funds bought 30,000 shares for Rs 3,335 per share. However, Nalanda India Fund offloaded 7,85,000 shares for Rs 3,335 per share. 

 

As per the company's shareholding pattern on BSE, Nalanda India Fund Ltd held a 5.57 per cent stake in the company for the quarter ended September 30, 2024. Meanwhile, SBI Small Cap Fund held 1.21 per cent around the same period. 

 

Around 10:05 AM, Ratnamani Metals share price was up 0.39 per cent at Rs 3,340 per share. In comparison, the BSE Sensex was down 0.11 per cent at 80,864.74. The market capitalisation of the company stood at Rs 

23,410.73 crore. The 52-week high of the stock stood at Rs 3,971.8 per share and 52-week low of the stock stood at Rs 2,580.75 per share.

 

Ratnamani Metals and Tubes Ltd. is a manufacturer specialising in the production of stainless steel and carbon steel pipes and tubes. The company is renowned for its high-quality seamless and welded tubes used across various industries, including oil and gas, power, chemicals, petrochemicals, and fertilisers. 

 

Ratnamani produces a wide range of products, including pipes, tubes, and fittings, in different grades and specifications that comply with global standards. With a strong focus on quality, the company has established a significant international presence, exporting to over 50 countries. 

 

Ratnamani operates advanced manufacturing facilities across India and emphasizes innovation and research to meet the evolving needs of its global clientele. The company’s commitment to excellence has made it a trusted name in the engineering and manufacturing sectors.

 

The company operates several manufacturing plants across India, equipped with advanced technology for pipe and tube production. It also has extensive research and development capabilities for innovation in the products and services offered.

 

In the past one year, Ratnamani Metals shares have lost 12 per cent against Sensex's rise of 17 per cent.