Rama Steel rallies, to initiate strategic expansions globally

Steel pipes and tubes manufacturing major, Rama Steel Tubes bagged distinguished export orders for ERW pipes worth Rs 30 crore, to be sourced from the company's Delhi based facility, escalating the stock of the company.

The company's stock rallied on April 26, 2017, with the stock trading at Rs 144.50, up by 3.03 per cent on the BSE at IST 10:25 am. The stock traded at a high of 144.45 on the NSE at the same time, up by 3.59 per cent at the same time.

In a media communique, Richi Bansal, CEO of Rama Steel Tubes said "Going forward, we continue to explore such newer and bigger opportunities by entering in the high demand markets not only domestically but also globally. We also plan to venture in value added products, that we expect to do well, enabling us to better our performance."   


The CEO also added that the orders reflect the strong presence of the company in the global market, meanwhile, the company is planning a strategic expansion of its market globally. 

The stock opened at Rs 138 on the BSE, whereas the 52-week high was Rs 148. While, the stock opened at Rs 138.6 on the NSE today, and the 52-week high was Rs 150.

The S&P BSE metal is trading at 11,357.72, up by 1.41 per cent on April 26, 2017 at 10:25 am.