Hariom Pipe hits new high, up 9% on acquiring operating assets of RP Metal

The stock has zoomed 146 per cent from its issue price of Rs 153 per share, post its market debut on April 13, 2022.

Shares of Hariom Pipe Industries hit a record high of Rs 376, as they rallied 9 per cent on the BSE in Wednesday’s intra-day trade following the acquisition of operating assets of R P Metal Sections Private Limited for an all cash consideration of Rs 55 crore. The stock of iron & steel products company surpassed its previous high of Rs 373.45 touched on December 12, 2022.

The company said it had entered into Asset Transfer Agreement with R P Metal Sections Private Limited on December 26, 2022 to purchase their operating Asset which manufactures Galvanized Pipe and Cold