Rama Steel Tubes is currently trading at its upper circuit limit of Rs. 455.15, up by 21.65 points or 4.99% from its previous closing of Rs. 433.50 on the BSE.
The scrip opened at Rs. 449.95 and has touched a high and low of Rs. 455.15 and Rs. 445.95 respectively. So far 288522 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 5 has touched a 52 week high of Rs. 455.15 on 10-Jan-2022 and a 52 week low of Rs. 62.05 on 08-Jan-2021.
Last one week high and low of the scrip stood at Rs. 455.15 and Rs. 341.50 respectively. The current market cap of the company is Rs. 764.38 crore.
The promoters holding in the company stood at 62.33%, while Institutions and Non-Institutions held 0.12% and 37.55% respectively.
Rama Steel Tubes (RSTL) is setting up a manufacturing facility of 20,000 MT pa at its step-down subsidiary RST Industries in Nigeria, West Africa. The company has already commenced the expansion exercise for setting up the proposed facility in Nigeria, the expansion is expected to be completed in two tranches and will be fully operational by August 2022 and expects to operate at full capacity by Q3 of FY23.
This additional capacity is mainly aimed at expanding its current repertoire of SKUs to include Roofing Sheets. The total capital outlay for this expansion will be Rs 200 million and will be funded through a mix of internal accruals and partially through debt.
Rama Steel Tubes is a leading player engaged in the manufacturing and trading of Steel Tubes & Pipes and Rigid PVC (Poly Vinyl Chloride) & G.I. (Galvanised Iron) Pipes in India as well as in the world.