The company achieved a record sales of 53.21.6 tonnes in the December quarter. Sales for the nine months of FY23 stood at 1,31,824 tonnes as compared to 71,071 tonnes a year ago.
There are many penny stocks in the stock market which have given multibagger returns to the investors. One such stock is Rama Steel Pipes. On Friday, the last trading day of the week, a jump was seen in the shares of this small iron and steel company. The scrip was priced at Rs 27.84, up nearly 5 per cent on the BSE index.
The highest share price in 52 weeks is Rs 46.10. This price was on 10 January 2023. At the same time, exactly a year ago on March 31, 2022, the stock had come down to a 52-week low of Rs 12.24. Its market capitalization is Rs 1,296.85 crore. Explain that in April 2020, the share price was less than Rs 1.
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Compared to the Sensex, the stock of Rama Steel Tubes gave investors a return of 120 per cent in one year. Similarly, the shares gained 880 per cent in two years. Apart from this, an increase of 3,515.58 per cent was registered in the shares within three years.
How did the December quarter results fare?
Explain that Rama Steel Tubes is a structural steel tube company. The company achieved a record sales of 53.21.6 tonnes in the December quarter. Sales for the nine months of FY23 stood at 1,31,824 tonnes as compared to 71,071 tonnes a year ago. The company reported total income of over Rs 35 lakh crore for the period ending December 31, 2022. The company earned a net profit of Rs 7.4611 crore in the December quarter.
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