In a significant development, SBI Mutual Fund and Tata Mutual Fund have increased their stake in Ratnamani Metals & Tubes Ltd. through open market transactions valued at ₹262 crore. The move highlights a continued positive outlook from institutional investors on the company’s potential. This transaction involves a combined 1.12% stake.
SBI Mutual Fund purchased 7.55 lakh shares, while Tata Mutual Fund acquired 30,000 shares of Ratnamani Metals & Tubes, marking a noteworthy increase in their holdings. The shares were bought at an average price of ₹3,335 each, bringing the total deal value to ₹ 261.80 crore. Following this acquisition, SBI Mutual Fund’s stake in the company rose to 2.28%, up from 1.21%, indicating strengthened investor confidence.
Established in 1983, Ratnamani Metals & Tubes Ltd. is one of the prominent manufacturers in India, specialising in stainless steel and carbon steel pipes and tubes. The company has several production units located in Gujarat with its registered office situated in Ahmedabad. It serves various industrial sectors, including oil and gas, petrochemicals, power generation, and fertilisers. Ratnamani is known for high-quality seamless as well as its welded tubes and is a preferred partner for demanding applications.
As of December 05, 2024, 3:18 PM, shares of Ratnamani metals are currently trading at ₹3329.20 per share with a surge of 0.15% from its previous day’s closing price. Over the last month, the stock has seen a fall of 9.33%. While over the past year, the stock has seen a decline of 12.60%. The stock has a 52-week high and 52-week low of ₹3,978.00 per share and ₹2,581.50 per share respectively.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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