India’s Hariom Pipe jumps over 9% on new assets purchase

Hariom Pipe Industries

28/12/2022 05:19

Dec 28 (Reuters) -    ** Shares of Hariom Pipe
Industries Ltd  HARO.NS  up as much as 9.6% to 376 rupees, their
highest since Dec. 14
    ** Steel pipes manufacturer said late on Tuesday it will
purchase operating assets from R.P. Metal Sections in a cash
deal of 550 million rupees ($6.64 million)
    ** Co in process of expanding product range - HARO
    ** About 1.2 mln shares change hands as of 10:32 a.m., vs
30-day average of 329,796 shares 
    ** Stock rises 48.5% up to last close
($1 = 82.8550 Indian rupees)
 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))