India's Venus Pipes and Tubes extends record rally, to foray in new business

Ratnamani Metals and Tubes

29/02/2024 05:03

** Shares of Venus Pipes and Tubes  VENS.NS  up 7% to a
record 1856.65 rupees
    ** Stainless-steel pipes maker extends record rally, gains
over 10% in two sessions 
    ** Co to foray in fittings business, expand stainless and
titanium welded tubes capacity in projects worth 1.75 bln rupees
($21 mln)
    ** Trading volumes are 4.6 times its 30-day avg 
    ** Stock gained ~27% in Feb so far, on track for biggest
monthly gains since Oct. 2022 
    ** Its ~96% gains in 2023 outpaced ~72% and ~41% gains in
bigger rivals Ratnamani Metals and Tubes  RMT.NS  and APL Apollo
Tubes  APLA.NS  
    

($1 = 82.8900 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))