Ratnamani Metals rises after winning order

Ratnamani Metals & Tubes rose 1.54% to Rs 953 at 10:21 IST on BSE after the company said it received a domestic order for supply of welded carbon steel pipes valued at Rs 125.51 crore.

The announcement was made after market hours yesterday, 25 June 2018.

Meanwhile, the S&P BSE Sensex was down 10.35 points, or 0.03% to 35,460.

On the BSE, 1,034 shares were traded in the counter so far compared with average daily volumes of 763 shares in the past two weeks. The stock had hit a high of Rs 971.90 and a low of Rs 945 so far during the day. The stock hit a record high of Rs 1,217 on 4 January 2018. The stock hit a 52-week low of Rs 790.05 on 30 June 2017.

 

Ratnamani Metals & Tubes said the order will be completed by March/April 2019.

Net profit of Ratnamani Metals & Tubes rose 41.16% to Rs 56.21 crore on 59.38% rise in net sales to Rs 619.07 crore in Q4 March 2018 over Q4 March 2017.

Ratnamani Metals & Tubes' manufacturing facilities are located at Chhatral & Indrad (near Ahmedabad) and Bhimasar (near Gandhidham, Kutch), in the state of Gujarat, India. The state-of-the-art manufacturing & testing facilities produces a wide range of nickel alloy / stainless steel seamless tubes & pipes, stainless steel welded tubes & pipes, titanium welded tubes , carbon steel welded pipes and stainless steel / carbon steel pipes with coating.

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