Rama Steel Tubes bags 3 new orders worth Rs42.9cr; Stock jumps over 2%

These orders are mainly for suppLy of electrical poles and G.I. Pipes.

Sep 16, 2021 01:09 IST India Infoline News Service

Rama Steel Tubes Ltd (RSTL) has bagged orders from UPPCL (Lucknow), Jal Shakti Vibhag (Himachal Pradesh) and NPCL (Noida) and BSES (New Delhi) aggregating to the tune of Rs42.9cr.

Naresh Kumar Bansal Chairman and Managing Director, Rama Steel Tubes Limited, said "We are pleased to announce that our sustained relation and credibility has yet again fructified in bagging us new prestigious orders. RSIL has been associated with many State Corporations, even in the past and we celebrate our long-standing relationship with them. These orders will 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."

The company said that RSTL prides on having a strong track record of being associated with prestigious projects in the past. It has been associated with several projects Like Kumbh Mela Electrification, Earthing Electrodes, etc. in the past few years.

The company has received 3 new orders from UPPCL, Lucknow for its 3 corporations, Jal Shakti Vibhag, Himachal Pradesh and NPCL, Noida and BSES, New Delhi, total aggregating to Rs42.9cr.

These orders are mainly for suppLy of electrical poles and G.I. Pipes. These orders will further strengthen RSTL's order book and credibiLity in the market.

At around 1.22 pm, RTSL was trading at Rs253.20 per piece up 2% on Sensex. The stock has touched an intraday high of Rs260.30 per piece that was near the 52-week high of Rs268.70 per piece on the index. 

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