Ratnamani Metals at new high

Ratnamani Metals opened 4.5% higher today at Rs.2295 and went on to hit a new high at Rs.2299 and volumes jumped up over 17.5 times.

The stock price surged to a new high on news that it has bagged a new order worth Rs.98 crore for supply of Carbon Steel Pipes from domestic Oil & Gas Sector. This is to be executed in 5 to 12 months.

Three days ago, the company had announced receipt of various orders aggregating Rs.144 crore for supply of Stainless Steel pipes and Carbon Steel pipes from Oil & Gas sector, to be executed in 3 to 8 months.