Hariom Pipe skyrockets ~9% on expansion plans; commences commercial production

Hariom Pipe Industries Limited informed that it has completed the setting up of its 15-ton electric melting furnace and commercial production from the same will commence on Friday, November 25, 2022.

This will increase the company’s MS Billet production from 95,832 MTPA to 1,04,232 MTPA.

The company debuted on the stock exchanges on April 12 at Rs214 per share on the BSE and Rs220 per share on the NSE. The allottees received a 44% premium on the stock.

At around 11.05 AM, Hariom Pipe Industries was trading at Rs312.95 up by 9.37% from its previous closing of Rs286.15 on the BSE. The scrip opened at Rs287.20 and touched intraday high and low of Rs319.40 and Rs287.20 respectively.

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