Hot Pursuit     04-Jul-23
Rama Steel Tubes edges higher after steel sales volumes rise by 62% YoY in Q1
Rama Steel Tubes jumped 4.65% to Rs 38.29 after the company said that it has registered a sales volume of 48,437.69 tons in Q1 FY24 as compared to 29,833.96 tons in Q1 FY23, recording a growth of 62% on YoY basis.

The announcement was made during market hours today.

Rama Steel Tubes is engaged in the business of manufacturing of Steel Pipes and related products.

The company's consolidated net profit increased by 52.43% to Rs 11.28 crore on a 58.49% rise in sales to Rs 399.24 crore in Q4 FY23 over Q4 FY22.

In the past three months, the stock has zoomed 20.76% while the benchmark Sensex has added 9.80% during the same period.

On the technical front, the stock's daily RSI (relative strength index) stood at 39.098. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On daily chart, the stock is trading above its 100-day and 200-day simple moving average (SMA) placed at 33.87 and 32.62, respectively. It is, however, trading below its 50-day SMA positioned at 36.01.

Previous News
  Rama Steel Tubes consolidated net profit declines 4.07% in the March 2025 quarter
 ( Results - Announcements 01-Jun-25   09:16 )
  Rama Steel Tubes consolidated net profit declines 10.04% in the June 2024 quarter
 ( Results - Announcements 16-Aug-24   07:28 )
  Rama Steel Tubes standalone net profit declines 39.09% in the March 2025 quarter
 ( Results - Announcements 31-May-25   17:08 )
  Rama Steel Tubes incorporates WoS named Rama Defence
 ( Corporate News - 03-Sep-24   12:02 )
  Board of Rama Steel Tubes to consider bonus issue
 ( Corporate News - 15-Jan-24   14:15 )
  Rama Steel Tubes forays into defence sector
 ( Hot Pursuit - 03-Sep-24   15:53 )
  Rama Steel Tubes fixes record date for bonus issue
 ( Market Beat - Reports 06-Mar-24   15:21 )
  Rama Steel Tubes to hold board meeting
 ( Corporate News - 04-Feb-23   13:30 )
  Rama Steel Tubes standalone net profit declines 83.40% in the June 2022 quarter
 ( Results - Announcements 13-Aug-22   09:01 )
  Rama Steel spurts on inking MoU with JSW Steel
 ( Hot Pursuit - 18-Jul-23   11:36 )
  Board of Rama Steel Tubes considers business integration through acquisitions
 ( Corporate News - 18-Nov-22   13:51 )
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