Rama Steel Tubes Limited bags new orders aggregating to approx. Rs. 429 mn

Rama Steel Tubes Limited (RSTL) prides in having a strong track record of being associated with prestigious projects in the past. It has been associated with several projects Like Kumbh Mela Electrification, Earthing Electrodes, etc. in the past few years. It has received 3 new orders from UPPCL, Lucknow for its 3 corporations, Jal Shakti Vibhag, Himachal Pradesh and NPCL, Noida and BSES, New Delhi, total aggregating to ~Rs. 429 mn. These orders are mainly for supply of electrical poles and G.I. Pipes. These orders will further strengthen RSTL's order book and credibility in the market.

Commenting on the announcement, Mr. Naresh Kumar Bansal Chairman and Managing Director, Rama Steel Tubes Limited, said "We are pleased to announce that our sustained relation and credibility has yet again fructified in bagging us new prestigious orders. RSTL has been associated with many State Corporations, even in the past and we celebrate our long-standing relationship with them. These orders will help us in strengthening our position and credibility in the market. These orders will also help us in achieving our targeted revenues at a slightly faster rate than what we had anticipated."

Shares of Rama Steel Tubes Limited was last trading in BSE at Rs. 248 as compared to the previous close of Rs. 244.55. The total number of shares traded during the day was 4795 in over 139 trades.

The stock hit an intraday high of Rs. 251.85 and intraday low of 239. The net turnover during the day was Rs. 1179409.

Source : Equity Bulls

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