India's Hi-Tech Pipes up after Q3 sales volume climbs

Welspun

03/01/2024 09:44

** Shares of Hi-Tech Pipes  HITC.NS  up 2% at 121.2 rupees 
    ** Stock on track to rise for fourth straight session, if
trend holds
    ** Co says Q3 sales volume rose 8% YoY
    ** Stock touched fresh record high of 124.25 rupees before
paring some of the gains
    ** More than 4.2 mln shares change hands, 2.7X the 30-day
moving average
    ** Stock climbed for the fourth straight year in 2023,
rising 40%
    ** Shares of rivals Welspun Corp  WGSR.NS  and Steel
Authority of India  SAIL.NS  outpaced HITC's growth last year,
while Tata Steel  TISC.NS  rose 25%

 (Reporting by Varun Vyas)
 ((varunvyas.hebbalalu@thomsonreuters.com))