Share Market Live

NSE

Ratnamani Metals and Tubes Ltd., a company that provides total piping solutions to a diverse range of industries, on Tuesday announced that it has received new orders aggregating to Rs 262.52 crore.

The company has not divulged any specific details regarding the order. Of the total new orders, domestic orders amounted to Rs 233.26 crore, while export orders aggregated to Rs 29.26 crore.

Over the past year, the Ratnamani Metals and Tubes stock has jumped by 45.7 percent compared to an over 8 percent rise in the benchmark Sensex index during the same period.

In a research report dated November 12, brokerage house ICICI Direct said that it was bullish on Ratnamani Metals and Tubes and recommended a ‘buy’ rating on the stock with a 12-month target price of Rs 2,225.

The company’s order book as on November 1, 2022, was at Rs 3,244 crore, according to the ICICI Direct report. Of this, the stainless steel (SS) order book was at Rs 765 crore, while carbon steel (CS) orders were at Rs 2,479 crore.

Shares of Ratnamani Metals and Tubes ended 0.11 percent lower at Rs 1,972.

(Edited by : Rukmani Krishna)