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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.

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Steel pipes

SI Reporter Mumbai
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

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First Published: Dec 28 2022 | 10:28 AM IST

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