Multibagger Rama Steel shares extend gains, jump 40% in a month
According to the data from BSE, 4.46 lakh equity shares of Rama Steel Tubes were traded as at 1.15 pm on Monday, which is higher than its 2-week average of 3.69 lakh equity shares.
- Jun 5, 2023,
- Updated Jun 5, 2023 1:51 PM IST
Shares of Rama Steel Tubes extended its gains on Monday as the multibagger stock rose over another 5 per cent during the session amid heavy trading volumes. The metal company has been on the radar of traders, particularly after announcing its results for the period ended on March 31, 2023.
Rama Steel Tubes reported a 58 per cent rise on a year-on-year (YoY) basis in the consolidated net profit at 11.66 crore for the March 2023 quarter, compared to a net profit of Rs 7.4 crore in the year ago, while its revenue from operations surged about 59 per cent YoY to Rs 399.24 crore for the three months ended on March 31, 2023.
According to the data from BSE, 4.46 lakh equity shares of Rama Steel Tubes were traded as at 1.15 pm on Monday, which is higher than its 2-week average of 3.69 lakh equity shares. Similarly, more than 34.06 lakh equity shares of the company exchanged hands on the National Stock Exchange (NSE) as of the same time. Shares of Rama Steel Tubes jumped more than 5 per cent to Rs 43.25 on Monday, before correcting marginally as the company's total market capitalization was just shy of Rs 2,000 crore mark. In the last one month, the stock has gained about 40 per cent.
Shares of Rama Steel have jumped a stunning 225 per cent from its 52-week low at Rs 13.32 on June 6, 2022. The stock has gained a whopping 4,225 per cent in the last three years from its price (adjusted) at Re 1 on June 1, 2022. It is up 20 per cent in the year 2023 so far.
For the entire financial year 2022-23, Rama Steel Tubes' net profit remained almost flat at Rs 27.44 crore, compared to Rs 27.32 crore in the last year. However, its revenue from operations increased 75 per cent to Rs 1,336.75 crore during the period under review.
Incorporated in 1974, New Delhi-based Rama Steel Tubes is engaged in the steel pipes and tubes industry, with an installed capacity of 2,64,000 metric tonnes per annum. The company has a global presence in countries like the USA, the UK, UAE, Sri Lanka, Ethiopia, Kenya, Uganda, Ghana, Kuwait, the Republic of Congo, Yemen, Guyana, Germany and South Africa among others.
In August 2022, the company announced its stock split 1:5 ratio as each stock of the company with a face value of Rs 5 was divided into five shares of Re 1 each. The company also announced a bonus issue for the investors in a 4:1 ratio, implying that every investor received additional four shares of the company for each share held by them.
Also read: Paytm shares operating performance for May; disbursements at Rs 5,502 crore
Shares of Rama Steel Tubes extended its gains on Monday as the multibagger stock rose over another 5 per cent during the session amid heavy trading volumes. The metal company has been on the radar of traders, particularly after announcing its results for the period ended on March 31, 2023.
Rama Steel Tubes reported a 58 per cent rise on a year-on-year (YoY) basis in the consolidated net profit at 11.66 crore for the March 2023 quarter, compared to a net profit of Rs 7.4 crore in the year ago, while its revenue from operations surged about 59 per cent YoY to Rs 399.24 crore for the three months ended on March 31, 2023.
According to the data from BSE, 4.46 lakh equity shares of Rama Steel Tubes were traded as at 1.15 pm on Monday, which is higher than its 2-week average of 3.69 lakh equity shares. Similarly, more than 34.06 lakh equity shares of the company exchanged hands on the National Stock Exchange (NSE) as of the same time. Shares of Rama Steel Tubes jumped more than 5 per cent to Rs 43.25 on Monday, before correcting marginally as the company's total market capitalization was just shy of Rs 2,000 crore mark. In the last one month, the stock has gained about 40 per cent.
Shares of Rama Steel have jumped a stunning 225 per cent from its 52-week low at Rs 13.32 on June 6, 2022. The stock has gained a whopping 4,225 per cent in the last three years from its price (adjusted) at Re 1 on June 1, 2022. It is up 20 per cent in the year 2023 so far.
For the entire financial year 2022-23, Rama Steel Tubes' net profit remained almost flat at Rs 27.44 crore, compared to Rs 27.32 crore in the last year. However, its revenue from operations increased 75 per cent to Rs 1,336.75 crore during the period under review.
Incorporated in 1974, New Delhi-based Rama Steel Tubes is engaged in the steel pipes and tubes industry, with an installed capacity of 2,64,000 metric tonnes per annum. The company has a global presence in countries like the USA, the UK, UAE, Sri Lanka, Ethiopia, Kenya, Uganda, Ghana, Kuwait, the Republic of Congo, Yemen, Guyana, Germany and South Africa among others.
In August 2022, the company announced its stock split 1:5 ratio as each stock of the company with a face value of Rs 5 was divided into five shares of Re 1 each. The company also announced a bonus issue for the investors in a 4:1 ratio, implying that every investor received additional four shares of the company for each share held by them.
Also read: Paytm shares operating performance for May; disbursements at Rs 5,502 crore