iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Venus Pipes & Tubes Surges 8% on Fittings Business Entry and Capacity Expansion

26 Mar 2024 , 03:17 PM

Venus Pipes & Tubes Ltd witnesses an over 8% surge on February 29 following its foray into the fittings business and capacity expansion for pipes and tubes.

The intraday high of the stock reaches ₹1,875, trading at ₹1,865 on the BSE in the early trade, reflecting a 7.3% increase from the previous close. Benchmark Sensex sees a marginal 0.07% gain, reaching 72,356 points.

Fittings, crucial in industrial piping for fluid or gas connections, redirection, and control, become a strategic focus for Venus Pipes & Tubes to reinforce its position in the industrial sector.

MD Arun Kothari states that fittings complement the company's pipe business, offering comprehensive PFF (Pipe, Fittings, and Flanges) solutions.

Two-phase capacity expansion includes the introduction of new stainless and titanium welded tubes, with completion expected by March 2025 and December 2025 for value-added fittings and welded tubes, respectively. The firm initiates a ₹175-Crore capex plan, with the first phase requiring an investment of ₹115 Crore.

Approximately 40% of the capex involves issuing 4.2 Lakh convertible warrants at ₹1,700 each, raising ₹71.4 Crore. Funding for the expansion comes from convertible warrants, term loans, and internal accruals.

The move opens avenues for diversification into critical sectors such as food processing, pharmaceuticals, nuclear, and power, according to Kothari.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • business
  • Company
  • news
  • Top News
  • Venus Pipes & Tubes
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.


Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp