India's Hi-Tech Pipes gains after board mulls fundraising

Hi-Tech Pipes

22/11/2022 04:23

** Shares of steel pipe manufacturer and supplier Hi-Tech
Pipes Ltd  HITC.NS  up as much as 4.1% to 654 rupees
    ** Stock on track for a third consecutive session of gains 
    ** Co late on Monday said board will consider raising funds
on Nov. 24th via preferential issue of securities 
    ** Earlier this month, HITC reported a second-quarter
consolidated profit after tax of 43.4 million Indian rupees
(~$531,000), down 56.8% y/y 
    ** As of last close, HITC stock up 16.9% YTD 
($1 = 81.6750 Indian rupees)
 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))