Ratnamani Metals jumps on order win

Ratnamani Metals & Tubes gained 2.62% to Rs 1,230 after the company said its carbon steel division received a domestic order of Rs 216 crore for supplying of coated CS pipes for oil & gas sector.

The order is to be executed between January 2021 to January 2022, the company announced during market hours today, 28 September 2020.

On a consolidated basis, the company posted a 20.7% fall in net profit to Rs 49.71 crore on a 1.6% decline in net sales to Rs 578.07 crore in Q1 June 2020 over Q1 June 2019.

Ratnamani Metals & Tubes is engaged in providing total piping solutions to a diverse range of industries.

 

Currently, the stock is trading 11.09% below its 52-week high of Rs 1,383.50 hit on 2 March 2020. The scrip has soared 71.89% from its 52-week low of Rs 715.55 hit on 24 March 2020.

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