Hariom Pipe hits new high, up 4% on shareholders nod for preferential issue

Shares of Hariom Pipe Industries (HPIL) hit a record high of Rs 481.15 as they rallied 4 per cent on the BSE in Tuesday’s intra-day trade in an otherwise range-bound market after getting shareholders nod for raising funds via issue of preferential shares.

The stock of iron & steel products maker surpassed its previous high of Rs 468, touched on March 14, 2023. In past three months, it has zoomed nearly 50 per cent, as compared to 5 per cent decline in the S&P BSE Sensex. Further, in past six months, it skyrocketed 80 per cent, as against 3