Stock Report

RSTL successfully procures orders from UPPCL to the tune of 580 MT aggregating to Rs. 43.3 million

Posted On : 2021-12-30 14:14:45( TIMEZONE : IST )

RSTL successfully procures orders from UPPCL to the tune of 580 MT aggregating to Rs. 43.3 million

Rama Steel Tubes Limited (RSTL), one of the leading manufacturers of Steel Pipes & Tubes and G.I. Pipes in lndia, has received orders from Uttar Pradesh Power Corporation Limited (UPPCL) aggregating to the tune of ~Rs. 43.3 Mn.

RSTL prides in having a strong track record of being associated with prestigious infrastructure and public utilities projects in the past. Keeping up with our vision to cater to large scale infrastructure projects in FY22, RSTL has now received a new order from UPPCL, total aggregating to ~Rs. 43.3 Mn. This order is mainly for supply of no's 2500 electrical poles amounting to ~580 MT. This order is in addition to the previous order received from UPPCL for no's 7000 poles amounting to ~1624 MT. These orders willfurther 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 relationship and credibility has yet again assisted us bagging in this new prestigious order from UPPCL. Even in the past, RSTL has been associated with many State Corporations, and we celebrate our long-standing relationship with them. These orders with 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. 282.90 as compared to the previous close of Rs. 257.20. The total number of shares traded during the day was 55134 in over 1603 trades.

The stock hit an intraday high of Rs. 282.90 and intraday low of 261.30. The net turnover during the day was Rs. 15441582.00.

Source : Equity Bulls


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