Ratnamani Metals & Tubes rose 3.05% to Rs 606.30 at 15:00 IST on BSE after the company announced that it has received an order for supply of carbon steel pipes from L & T amounting to Rs 528 crore.
The announcement was made during market hours today, 3 September 2015.
Meanwhile, the BSE Sensex was up 318.56 points, or 1.25%, to 25,772.12.
On BSE, so far 18,614 shares were traded in the counter, compared with an average volume of 3,864 shares in the past one quarter.
Shares of mid-cap company hit a high of Rs 621.50 and a low of Rs 598.50 so far during the day. The stock had hit a record high of Rs 806.25 on 19 February 2015. The stock had hit a 52-week low of Rs 400 on 4 September 2014.
Ratnamani Metals & Tubes said the order shall be completed by June, 2017. These pipes are for the orders received by L&T recently from Public Health Engineering Department, Ajmer, under the Rajasthan Rural Water Supply and Fluorosis Mitigation Project, Nagaur.
Ratnamani Metals & Tubes' net profit rose 29.8% to Rs 49.92 crore on 22.8% growth in total income to Rs 433.37 crore in Q1 June 2015 over Q1 June 2014.
Ratnamani Metals & Tubes is a multi-location, multi-product company, manufacturing tubes & pipes in stainless steel/exotic material and also carbon steel pipes, in wide size ranges, for wide spectrum of applications.
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