India's Rama Steel Tubes rises on order win

Rama Steel Tubes

05/12/2022 04:51

** Shares of steel pipes manufacturer Rama Steel Tubes Ltd
 RAMA.NS  up as much 3.3% to 179.95 rupees, hitting their
highest level since Nov. 23
    ** Stock posts biggest intraday pct gain since Dec. 2, on
track for a fourth consecutive session of gains
    ** Co on Friday received two orders worth 67 million rupees 
($823,373.99) from Purvanchal Vidut Vitran Nigam Ltd and
Paschimanchal Vidut Vitran Ltd  urn:newsml:reuters.com:*:nFWN32S235
    ** These orders are mainly for supply of steel tubular poles
    ** More than 182,221 shares were traded by 10:10 a.m. IST vs
the 30-day moving avg of 1.1 mln shares
    ** As of last close, RAMA stock up 156.78% YTD 
($1 = 81.3725 Indian rupees)
 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))