Image Source : PTI/FILE The counter closed at Rs 858 on NSE throughout the earlier buying and selling session on Tuesday.
Shares of Hi-Tech Pipes Limited have yielded multi-bagger returns to its traders. According to trade knowledge, the inventory has spurted nearly 90 per cent prior to now 6 months on the again of a robust business.
In absolute phrases, the shares of the New Delhi-based iron and metal merchandise firm have gained Rs 400 every. The counter closed at Rs 858 on NSE throughout the earlier buying and selling session on Tuesday. The inventory is listed on BSE.
According to a submitting by the corporate, it has recorded the very best gross sales volumes of 91,232 thousand tonnes within the third quarter of the present fiscal, registering a 40 per cent rise on a Y-o-Y foundation. The identical determine stood at 65,088 thousand tonnes within the corresponding interval of the final fiscal.
ALSO READ: Multibagger IPO: This pipes and tubes producer firm’s shares climb over 100% in simply 8 months
Hi-Tech Pipes mentioned that it has additionally began industrial manufacturing of color coating line at Sikandrabad in Uttar Pradesh with an put in capability of fifty,000 MTPA. Besides, it has manufacturing items in Gujarat’s Sanand, Andhra Pradesh’s Hindupur and Maharashtra’s Khopoli.
Incorporated in 1985, Hi-Tech Pipes is engaged within the manufacturing of a variety of metal tubes and pipes. The firm final paid a dividend of Rs 0.50 in September 2022.
Earlier in November, the corporate had authorized 57 lakh full convertible fairness warrants at a problem value of Rs 692 per warrant.
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