Ratnamani Metals gains 4% on Rs 98 crore order win from oil & gas sector

The recent order win would aid the company to register 25 per cent CAGR revenue growth in FY21-23E, brokerage ICICI Securities said

Shares of Ratnamani Metals & Tubes (RMTL) hit a record high of Rs 2,299, up 4.5 per cent on the BSE in Friday’s intra-day trade after the company announced it has received an order worth Rs 98 crore (excluding GST) for the supply of carbon steel pipes from the oil & gas sector. The order is expected to be executed in 5-12 months.

Earlier this month, the company received various orders aggregating to Rs 144 crore (excluding GST) for the supply of stainless steel pipes and carbon steel pipes from the oil & gas sector which are to be executed in