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 to hold board meeting
 ( Corporate News - 24-May-25   13:49 )
  Rama Steel Tubes to convene EGM
 ( Corporate News - 11-Dec-24   13:58 )
  Rama Steel Tubes fixes record date for stock split
 ( Market Beat - Reports 12-Aug-22   16:13 )
  Rama Steel Tubes consolidated net profit declines 28.21% in the September 2022 quarter
 ( Results - Announcements 12-Nov-22   14:48 )
  Rama Steel Tubes receives credit ratings from ICRA
 ( Corporate News - 03-Jan-23   17:35 )
  Rama Steel Tubes consolidated net profit declines 36.69% in the March 2019 quarter
 ( Results - Announcements 29-May-19   16:26 )
  Rama Steel Tubes records highest ever sales volume in Q3 FY23
 ( Corporate News - 03-Jan-23   18:46 )
  Rama Steel Tubes to hold board meeting
 ( Corporate News - 06-Aug-22   21:06 )
  Rama Steel Tubes consolidated net profit declines 66.47% in the September 2018 quarter
 ( Results - Announcements 10-Nov-18   16:25 )
  Rama Steel Tubes standalone net profit declines 57.14% in the September 2018 quarter
 ( Results - Announcements 10-Nov-18   17:16 )
  Board of Rama Steel Tubes approves capex of Rs 250 cr for new plant in Raipur
 ( Corporate News - 20-Oct-23   14:56 )
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