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

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..