Rama Steel Tubes Ltd enhancing additional capacity at Anantpur Plant

Rama Steel Tubes Limited (BSE: 539309, NSE: RAMASTEEL), a leading player in the manufacturing of ERW pipes, has announced that the Company has started implementation of its expansion project at the Lepakshi Tubes Private Limited (wholly owned subsidiary), facility in Anantpur, Andhra Pradesh to increase its capacity to manufacture steel tubes & pipes from existing capacity of 36,000 MT per annum to 72,000 MT per annum in order to meet variety of sizes and growing demand of the products.

Mode of Financing: The Cost of this expansion is being met from unsecured loan/internal accurals.

Investment Required: The total investment required for the above expansion would be approximately Rs. 4 Cr.

Shares of Rama Steel Tubes Ltd was last trading in BSE at Rs.28 as compared to the previous close of Rs. 28.75. The total number of shares traded during the day was 506 in over 13 trades.

The stock hit an intraday high of Rs. 28.9 and intraday low of 27.5. The net turnover during the day was Rs. 13975.

Source : Equity Bulls

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