On Monday, shares of Rama Steel Tubes Ltd saw massive trading action, closing at ₹13.53 with a 10% upper circuit. According to BSE data, a total of 38,03,347 shares were traded, with 49.21% delivery.
Performance of Rama Steel Tubes Ltd
- Opening Price: ₹12.27
- Previous Close: ₹12.25
- 52-Week High: ₹17.51
- 52-Week Low: ₹9.91
- Market Cap: ₹2,093 crore
Rama Steel Tubes has shown a stellar performance in its small-cap segment, surpassing 8 out of 8 Exponential Moving Averages (EMA).
Also Read: Top 3 Semiconductor Stocks: FII Increased Stake in these.
Major Announcement: Formation of New Company in Green Energy
On Monday, Rama Steel Tubes Ltd announced in its board meeting the formation of a new company named “ONIX IPP Private Limited”.
Focus of the New Company:
- Green Energy
- Renewable Energy
Investment in the Company: Rama Steel Tubes will hold a 10% stake. Following this announcement, there was a significant spike in the company’s trade volume.
This Microcap IT Stock Price Upside after getting Infosys’s Big Order
Strong Financial Performance
In its Q2 FY25 report, the company showed growth in both revenue and profit.
- Revenue: ₹219.58 crore (compared to ₹158.30 crore in Q1 FY25)
- Net Profit: ₹2.92 crore (compared to ₹2.58 crore in Q1 FY25)
Share Performance of Rama Steel Tubes
- Return in 2024: 11.41% (Year-to-Date)
- Growth in Last 5 Years: 2394%
Over the long term, Rama Steel Tubes has delivered impressive returns to investors.
Top 5 Stocks of Vijay Kedia Portfolio: 214% Returns in 2024
Conclusion
With its foray into green energy and strong financial performance, Rama Steel Tubes is becoming increasingly attractive to investors. With a 10% upper circuit at ₹13.53 and new plans on the horizon, this is a rising star in the metal sector. Will you add this robust small-cap stock to your portfolio?