Hariom Pipe Industries gets enhanced working capital limits from Canara Bank; Stock rises

26 Sep 2022 , 12:06 PM

Hariom Pipe Industries Liimted has informed that on September 23, 2022, the company has received a sanction Letter dated September 22, 2022 by Canara Bank.

In a regulatory filing, the company said, “it is for enhancement of its working capital limits from Rs49.50 crore to Rs149.50 crore and a fresh term loan of Rs94.02 crore for implementation of cold rolled steel mill and galvanized pipe mill projects.

The Company is in the process of further negotiation with the bankers, the company further added.

At around 12:05 PM, Hariom Pipe Industries Ltd is currently trading at Rs257.30 per share up by Rs2.2 or 0.86% from its previous closing of Rs255.10 per share on the BSE.

The scrip opened at Rs251.10 per share and has touched a high and low of Rs262.05 per share and Rs246.75 per share respectively so far today. The current market cap of the company is Rs649.90 crore.

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