 "Ratnamani Metals soars 30% in two trading days on heavy volumes")
Ratnamani Metals & Tubes has moved higher to its 52-week high at Rs 789, up 9% on the BSE in intra-day trade on back of heavy volumes in otherwise range-bound market.
The stock of construction & engineering company soared 30% in past two trading sessions from Rs 605 on Tuesday, as compared to 0.09% rise in the S&P BSE Sensex.
The company on Friday said it has secured two new orders valued at about Rs 136 crore for supply of carbon steel ERW pipes for gas pipe line in India.
“The company has bagged two new orders aggregating to 22,000 MT valued at approx. Rs 103 crore and Rs 33 crore for supply of carbon steel ERW pipes for gas pipe line in India to be completed by June-July 2017 and October-November 2017, respectively,” Ratnamani Metals said in a BSE filing.
The company reported 28.5% year on year drop in its net profit at Rs 60 crore for the first six months (April to September) of the financial year 2016-17 (FY17). It had profit of Rs 83 crore in the same period previous fiscal.
At 10:11 am; the stock was up 7% at Rs 770 as compared to 0.07% rise in the benchmark index. The trading volumes on the counter more than doubled with a combined 353,136 shares changed hands on the BSE and NSE so far.
The stock of construction & engineering company soared 30% in past two trading sessions from Rs 605 on Tuesday, as compared to 0.09% rise in the S&P BSE Sensex.
The company on Friday said it has secured two new orders valued at about Rs 136 crore for supply of carbon steel ERW pipes for gas pipe line in India.
“The company has bagged two new orders aggregating to 22,000 MT valued at approx. Rs 103 crore and Rs 33 crore for supply of carbon steel ERW pipes for gas pipe line in India to be completed by June-July 2017 and October-November 2017, respectively,” Ratnamani Metals said in a BSE filing.
The company reported 28.5% year on year drop in its net profit at Rs 60 crore for the first six months (April to September) of the financial year 2016-17 (FY17). It had profit of Rs 83 crore in the same period previous fiscal.
At 10:11 am; the stock was up 7% at Rs 770 as compared to 0.07% rise in the benchmark index. The trading volumes on the counter more than doubled with a combined 353,136 shares changed hands on the BSE and NSE so far.