Stock of this SS pipes producer has zoomed 100% against its issue price

With Wednesday's gain, the stock of Venus Pipes has zoomed nearly 100 per cent against its issue price of Rs 326 per share

Shares of Venus Pipes & Tubes edged higher by 5 per cent to Rs 648.90 in Wednesday’s intra-day trade. In the past one month, the stock has rallied 48 per cent after the company became the first Indian company to receive Bureau of Indian Standards (BIS) approval for stainless steel seamless and welded pipes and tubes. In comparison, the S&P BSE Sensex was down 4.5 per cent, during the same period.

Venus Pipes & Tubes is a manufacturer and exporter of stainless steel (SS), welded and seamless pipes. With Wednesday's gain, the stock has zoomed nearly 100 per cent