Check Out Why Rama Steel Tubes Shares Gaining for Two Straight Sessions.

Shares of Rama Steel Tubes Ltd. have seen a significant surge this week, gaining up to 16% on Thursday following a 10% increase on Wednesday. This upward momentum can be attributed to the company’s strategic partnership with Onix Renewable Ltd.

On September 05, 2024, Rama Steel Tubes shares opened at ₹11.82 and touched the day high of ₹13.72 at 11:21 AM.

The collaboration aims to supply high-quality steel structures and single-axis trackers for solar energy projects. Rama Steel Tubes has developed specialised components tailored to meet the specific requirements of the solar industry, with plans to expand its offerings to include dual-axis trackers in the future.

The company’s entry into the green energy sector marks a significant milestone as it positions itself to capitalise on the growing demand for renewable energy solutions. By providing reliable and durable steel structures, Rama Steel Tubes contributes to the long-term success and efficiency of solar projects.

The company’s CEO, Richi Bansal, has expressed optimism about the positive impact this partnership will have on the company’s earnings. The quality of the steel structures is paramount in ensuring the longevity and performance of solar projects, and Rama Steel Tubes’ expertise in this area is a key differentiator.

The reliability and lifespan of solar projects are heavily reliant on the quality of the steel structures used. These structures play a critical role in supporting the solar panels and ensuring their optimal efficiency.

According to the June quarter shareholding pattern, the company’s promoters currently hold a 56.33% stake, slightly down from 56.7% in March 2024.

About Rama Steel Tubes Limited

Incorporated in 1974, Rama Steel Tubes is one of the leading manufacturers of Steel Pipes & Tubes, Rigid PVC & G.I. Pipes and square section products in India.

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.