Rama Steel reaches new milestone, records highest sales volume in Q3

05 Jan 2023 CW Team

The stock increased by 75% during the last three months, compared to the S&P BSE Sensex's 8% growth. Furthermore, compared to the benchmark index's 16% rise over the previous six months, it soared by 138%. The company’s board granted Shankar Sharma, an investor, 1.625 million convertible warrants on a preferential basis on 12 October, 2022, at an issue price of INR 112.50 per warrant (plus a premium of INR 111.50). The company stated that upon payment of the final 7% of the issue price, the warrants empower the holder to exercise an option to convert and obtain one equity share having a face value of INR 1 each fully paid up against each warrant within 18 months of the date of allocation.

Rama Steel Tubes concentrates on opportunities for business growth from government initiatives 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. The business is also in the midst of entering a number of niche sectors, including the supply of steel pipes and tubes to city gas distribution systems and solar energy generating plants.

Given its strong brand awareness, pan-Indian operations, variety of product offerings, and extensive dealer network, favourable macroeconomic conditions would boost the company's competitiveness. Long-standing connections with customers and suppliers, continued capacity development, and new product lines will allow the business to see higher growth in the future.

In an intraday trade, shares of Rama Steel Tubes rose 5% to a new high of Rs 185.10 after the business reported its largest sales volume of 53,216.16 tonnes for the December quarter. The shares of a company that manufactures steel pipes and tubes has surpassed INR 184.65 high it reached on December 15, 2022. The S&P BSE Sensex, in contrast, was down 0.07% at 61,127. April through December of FY23 saw a 9-month sales volume of 131,824.79 tonnes as compared to 71,071.35 tonnes in FY22. The management anticipates that the completion and ramp-up of new capacity expansion at Khopoli Plant in Maharashtra will result in a further increase in sales volume during the course of the fiscal year FY23. The stock increased by 75% during the last three months, compared to the S&P BSE Sensex's 8% growth. Furthermore, compared to the benchmark index's 16% rise over the previous six months, it soared by 138%. The company’s board granted Shankar Sharma, an investor, 1.625 million convertible warrants on a preferential basis on 12 October, 2022, at an issue price of INR 112.50 per warrant (plus a premium of INR 111.50). The company stated that upon payment of the final 7% of the issue price, the warrants empower the holder to exercise an option to convert and obtain one equity share having a face value of INR 1 each fully paid up against each warrant within 18 months of the date of allocation. Rama Steel Tubes concentrates on opportunities for business growth from government initiatives 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. The business is also in the midst of entering a number of niche sectors, including the supply of steel pipes and tubes to city gas distribution systems and solar energy generating plants. Given its strong brand awareness, pan-Indian operations, variety of product offerings, and extensive dealer network, favourable macroeconomic conditions would boost the company's competitiveness. Long-standing connections with customers and suppliers, continued capacity development, and new product lines will allow the business to see higher growth in the future.

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