Rama Steel hits new high after highest-ever sales volume in Q3

05 Jan 2023 CW Team

Shares of Rama Steel Tubes soared 5 per cent to claim a new high of Rs 185.10 in Tuesday’s intra-day trade after the company recorded highest sales volume of 53,216.16 tonne in the December quarter (Q3FY23).

The stock of steel pipes and tubes manufacturer surpassed its previous high of Rs 184.65, which it had touched on December 15, 2022. In comparison, the S&P BSE Sensex was down 0.07 per cent at 61,127 at 01:15 PM.

The sales volume for 9 months (April-December) of FY23 was 131,824.79 tonne compared to 71,071.35 tonne last year. In 12 months FY23, the management expects that the sales volume would further boost from commissioning and ramp-up of new capacity expansion at Khopoli Plant, Maharashtra.

In the past three months, the stock rallied 75 per cent, as against an 8 per cent rise in the S&P BSE Sensex. Moreover, in the past six months, it zoomed 138 per cent, as against a 16 per cent gain in the benchmark index.

On October 12, 2022, the company's board allotted 1.625 million convertible warrants at an issue price of Rs 112.50 each (including premium of Rs 111.50) to investor Shankar Sharma on a preferential basis upon receipt of 25 per cent of the issue price from the allottee.

Rama Steel Tubes focuses on business growth opportunities from government programmes like housing for all, affordable housing, smart cities, the national highway development programme, the Swachh Bharat mission, NAL Se JAL, the Jal Shakti Scheme, the RGGVY (Rajiv Gandhi Grameen Vidyutikaran Yojana), the DDUGJY (Deen Dayal Upadhyaya Gram Jyoti Yojana), etc.

Additionally, the company is in the process of entering certain specialised markets, such as the provider of steel pipes and tubes to city gas distribution and solar energy power plants.

Also Read
Linxon secures traction power supply contract in Chennai metro phase 2
Contract to supply HHR for Chennai metro phase 2 is won by VNC-KEC JV

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..