Purchase Ratnamani Metals and Tubes; focus of Rs 1967: ICICI Direct
- Jun 30, 2022, 11.00 AM
- DealMoney News Service
ICICI Direct's exploration report on Ratnamani Metals and Tubes
Ratnamani Metals and Tubes (RMTL) is a specialty player with prevalent capacities in the homegrown modern lines and cylinder portion. RMTL makes an extensive variety of tempered steel and carbon steel pipes and cylinders, which find application in key end client ventures like oil and gas processing plants, power, medical services, and so forth. Ratnamani Metals and Tubes (RMTL) has an amazing capital portion procedure and top tier working edges and return proportions • RMTL has solid income and solid monetary record. It is one of a handful of the players in the steel pipe area having net money position on its monetary record.
Likewise, our objective cost has additionally been updated to Rs 1967/share post this corporate activity. We have esteemed Ratnamani Metals and Tubes at 25x FY24E EPS of Rs 78.7. We keep up with our BUY rating on the stock.
At 11:09 hrs Ratnamani Metals and Tubes was citing at Rs 1,795.00, up Rs 130.85, or 7.86 percent.
It has contacted an intraday high of Rs 1,920.00 and an intraday low of Rs 1,780.00.
It was exchanging with volumes of 9,837 offers, contrasted with its multi day normal of 1,979 offers, an increment of 397.15 percent.
In the past exchanging meeting, the offer quit for the day percent or Rs 7.23 at Rs 1,663.33.
The offer contacted its 52-week high Rs 1,904.67 and 52-week low Rs 1,236.67 on 03 June, 2022 and 16 December, 2021, separately.
As of now, it is exchanging 5.76 percent beneath its 52-week high and 45.15 percent over its 52-week low.
Market capitalisation remains at Rs 12,581.51 crore.
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