Rama Steel Tubes announced that the 50th Annual General Meeting (AGM) of the company will be held on 30 September 2024.Powered by Capital Market - Live

Shubham Polyspin Ltd, United Drilling Tools Ltd, GIC Housing Finance Ltd and Indraprastha Medical Corporation Ltd are among the other losers in the BSE's 'B' group today, 09 September 2024.Rama Steel Tubes Ltd crashed 10.00% to Rs 14.94 at 14:31 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 364.06 lakh shares were traded on the counter so far as against the average daily volumes of 92.7 lakh shares in the past one month.Shubham Polyspin Ltd lost 7.83% to Rs 28.12. The stock was the second biggest loser in 'B' group.On the BSE, 38712 shares were traded on the counter so far as against the average daily volumes of 72115 shares in the past one month.United Drilling Tools Ltd tumbled 6.78% to Rs 252.9. The stock was the third biggest loser in 'B' group.On the BSE, 12975 shares were traded on the counter so far as against the average daily volumes of 4987 shares in the past one month.GIC Housing Finance Ltd shed 5.69% to Rs 222.95. The stock was the fourth biggest loser in 'B' group.On the BSE, 51786 shares were traded on the counter so far as against the average daily volumes of 15399 shares in the past one month.Indraprastha Medical Corporation Ltd slipped 5.57% to Rs 445.15. The stock was the fifth biggest loser in 'B' group.On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 66275 shares in the past one month.Powered by Capital Market - Live

Shares of the Rama Steel Tubes soared 54.28% in three trading sessions from its recent closing low of Rs 10.52 on 3 September 2024. On the BSE, 454.43 lakh shares were traded in the counter so far compared with average daily volumes of 100.76 lakh shares in the past two weeks. The stock hit a high of Rs 16.5 and a low of Rs 14.47 so far during the day. The stock hit a 52-week high of Rs 16.82 on 23 January 2024. The stock hit a 52-week low of Rs 9.91 on 04 June 2024. The counter saw demand after the company announced a strategic collaboration with Onix Renewable on 4 September 2024. This partnership will focus on leveraging the expertise of the company to provide steel structures along with single-axis trackers, and will also focus on dual-axis trackers to be expanded in the future essential for solar projects undertaken by Onix Renewable, said the firm. The company has expanded its expertise and developed specialised steel structures and tracker tubes which will serve as the backbone for Greenfield solar projects. The stock had outperformed the market over the past one month, surging 51.4% as against Sensex's 3.62% increase. The scrip had also outperformed the market in past three months, advancing 39.19% as against 8.48% rise in Sensex. Meanwhile, the counter had slightly outperformed the market in past one year, rising 23.8% as against Sensex's 23.62% surge. On the technical front, the stock's daily RSI (relative strength index) stood at 83.609. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 11.00, 11.68 and 12.50, respectively. These levels will act as crucial support zones in near term. Rama Steel Tubes is engaged in the business of manufacturing of Steel Pipes and related products. The company reported 10% decline in consolidated net profit to Rs 6.36 crore in Q1 FY25 as against Rs 7.07 crore posted in Q1 FY24. Revenue from operations fell 30.7% year on year to Rs 216.64 crore during the quarter ended 30 June 2024.Powered by Capital Market - Live

NRB Industrial Bearings Ltd, Premier Energies Ltd, Vishal Bearings Ltd and Surana Solar Ltd are among the other gainers in the BSE's 'B' group today, 06 September 2024.Rama Steel Tubes Ltd spiked 17.91% to Rs 16.39 at 06-Sep-2024 EOD IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 416.84 lakh shares were traded on the counter so far as against the average daily volumes of 58.76 lakh shares in the past one month. NRB Industrial Bearings Ltd soared 16.45% to Rs 44.81. The stock was the second biggest gainer in 'B' group. On the BSE, 90570 shares were traded on the counter so far as against the average daily volumes of 5062 shares in the past one month. Premier Energies Ltd surged 14.27% to Rs 1150.9. The stock was the third biggest gainer in 'B' group. On the BSE, 31.65 lakh shares were traded on the counter so far as against the average daily volumes of 28.94 lakh shares in the past one month. Vishal Bearings Ltd advanced 11.75% to Rs 134.6. The stock was the fourth biggest gainer in 'B' group. On the BSE, 1.72 lakh shares were traded on the counter so far as against the average daily volumes of 26144 shares in the past one month. Surana Solar Ltd rose 9.99% to Rs 43.6. The stock was the fifth biggest gainer in 'B' group. On the BSE, 7.45 lakh shares were traded on the counter so far as against the average daily volumes of 92675 shares in the past one month. Powered by Capital Market - Live

The key equity indices continued to trade with moderate losses in mid-morning trade. The Nifty hovered below the 25,150 mark. IT shares extended losses for the second consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, tumbled 432.96 points or 0.52% to 82,122.48. The Nifty 50 index slipped 159.05 points or 0.63% to 25,120.80. In the broader market, the S&P BSE Mid-Cap index declined 0.53% and the S&P BSE Small-Cap index rose 0.11%. The market breadth was weak. On the BSE, 1,664 shares rose and 2,091 shares fell. A total of 140 shares were unchanged. Economy : Indian service providers signaled that the strong start to the second fiscal quarter continued into August, with business activity expanding to the greatest extent since March as growth of incoming new business ticked higher. Moreover, payroll numbers rose solidly as companies remained upbeat regarding the economic outlook. Another positive development included a slowdown in output charge inflation, which was helped by cost pressures retreating to their lowest in four years. At 60.9 in August, the seasonally adjusted HSBC India Services Business Activity Index was inside expansion territory for the thirty-seventh straight month. Moreover, rising from 60.3 in July, the headline figure indicated the strongest rate of expansion since March and one that was well above its long-run average. According to panel members, growth was underpinned by productivity gains and positive demand trends. The current run of new order growth was also stretched to 37 months in August. The rate of increase quickened marginally from July and was the strongest since April, as more than one-quarter of panelists reported an improvement and only 5% indicated deterioration. August data showed another substantial increase in Indian private sector output. At 60.7, the HSBC India Composite Output Index matched July's reading and therefore remained comfortably above its long-run average of 54.6. Service providers signalled the strongest increase in business activity since March, while goods producers posted the weakest rise in production for seven months. A similar trend was seen for new orders, with the service sector posting a quicker increase as manufacturing saw a slowdown. At the composite level, sales rose substantially during August, though at the weakest pace since May. Trends for input prices were consistent at manufacturing companies and their services counterparts, as both saw cost pressures receded in August. The aggregate rate of inflation retreated to a six-month low. August survey data showed that prices charged for Indian goods and services rose to a lesser extent than in July. Manufacturers continued to note the quicker increase. IPO Update : The initial public offer (IPO) of Gala Precision Engineering received 16,76,80,800 bids for shares as against 22,23,830 shares on offer, according to stock exchange data at 11:20 IST on Wednesday (4 September 2024). The issue was subscribed 75.40 times. The issue opened for bidding on Monday (2 September 2024) and it will close on Wednesday (4 September 2024). The price band of the IPO is fixed between Rs 503 to Rs 529 per share. An investor can bid for a minimum of 28 equity shares and in multiples thereof. Buzzing Index : The Nifty IT index fell 1.65% to 42,145.55. The index slipped 1.93% in the two consecutive trading sessions. Mphasis (down 3.38%), Wipro (down 3.06%), Coforge (down 2.21%), LTIMindtree (down 2.13%), Infosys (down 1.81%), Persistent Systems (down 1.77%), Tech Mahindra (down 1.75%), L&T Technology Services (down 1.58%), Tata Consultancy Services (down 1.34%) and HCL Technologies (down 0.58%) edged lower. Stocks in Spotlight : Rama Steel Tubes zoomed 9.87% after the company announced a strategic collaboration with Onix Renewable for provide steel structures for latter's solar projects. Operating in the domain of green and renewable energy, this partnership will focus on leveraging the expertise of RAMA Steel Tubes to provide steel structures along with single-axis trackers, and will also focus on dual-axis trackers to be expanded in the future essential for solar projects undertaken by Onix Renewable. Adani Enterprises fell 0.71%. The company announced that its step-down subsidiary, Adani Global Pte (AGPTE), Singapore has incorporated a wholly owned subsidiary named, Adani Energy Resources (Shanghai) Co. (AERCL), domiciled in Shanghai, China on 2 September 2024. Global Markets : Asian shares traded lower on Wednesday as oil prices plummeted to multi-month lows. A sharp tech selloff on Wall Street, coupled with resurgent concerns about U.S. growth, drove investors away from riskier assets. Recent data from China revealed that its economy is still struggling to gain traction, leading to renewed calls for more stimulus from Beijing. The sluggish Chinese outlook, the world's largest oil importer, further exacerbated the decline in oil prices due to expectations of weakening demand. September has historically been a challenging month for stocks, but analysts attributed the current rout to a confluence of factors, including tepid U.S. manufacturing data. U.S. stocks closed sharply lower overnight after the holiday, with AI leader NVIDIA tumbling nearly 10% as investors tempered their enthusiasm about artificial intelligence. The return from the Labor Day holiday saw a widespread air of portfolio de-risking across capital markets. Growth concerns were the dominant theme, leading to a sell-off in cyclical-sensitive assets and aggressive hedging. The Dow Jones Industrial Average fell 1.51%, the S&P 500 slid 2.12% and the Nasdaq Composite dropped 3.26%. All three indexes notched their worst days since the global sell-off on Aug. 5. US manufacturing contracted at a moderate pace in August. The Institute for Supply Management (ISM) said its manufacturing PMI rose to 47.2 last month from 46.8 in July, which was the lowest reading since November. The PMI remained below the 50 threshold for the fifth straight month.Powered by Capital Market - Live

Operating in the domain of green and renewable energy, this partnership will focus on leveraging the expertise of RAMA Steel Tubes to provide steel structures along with single-axis trackers, and will also focus on dual-axis trackers to be expanded in the future essential for solar projects undertaken by Onix Renewable. RSTL has expanded its expertise and developed specialised steel structures and tracker tubes which will serve as the backbone for greenfield solar projects. We are proud to announce our entry into the Green Energy segment and are determined to deliver products that ensure the highest standards of reliability, durability, and performance, which are critical to the long-term success of solar greenfield projects,' the company said in a statement. Richi Bansal, WTD & CEO, looked forward to contributing to the enhanced structural integrity and performance of your projects. The positive impact on our EBITA and the establishment of RSTL's position in the renewable energy sector further highlight the benefits of this collaboration. The CEO stated that the reliability and lifespan of these solar projects are heavily dependent on the quality and durability of the steel structures which play a critical role in ensuring the long-term success and efficiency of such projects. The prospects of this Strategic Collaboration with Onix Renewable Ltd to deliver top-quality solar energy solutions. Together, we will pave the way for a brighter and more sustainable future,' he added. Rama Steel Tubes is engaged in the business of manufacturing of Steel Pipes and related products. The company reported 10% decline in consolidated net profit to Rs 6.36 crore in Q1 FY25 as against Rs 7.07 crore posted in Q1 FY24. Revenue from operations fell 30.7% year on year to Rs 216.64 crore during the quarter ended 30 June 2024. Powered by Capital Market - Live

Rama Steel Tubes (RSTL) announced a strategic collaboration with Onix Renewable. This partnership will focus on leveraging the expertise of RAMA Steel Tubes to provide steel structures along with single-axis trackers, and will also focus on dual-axis trackers to be expanded in the future essential for solar projects undertaken by Onix Renewable. RSTL has expanded its expertise and developed specialised steel structures and tracker tubes which will serve as the backbone for greenfield solar projects. The company said, We are proud to announce our entry into the Green Energy segment and are determined to deliver products that ensure the highest standards of reliability, durability, and performance, which are critical to the long-term success of solar greenfield projects.  Powered by Capital Market - Live

Rama Steel Tubes has incorporated a wholly owned subsidiary named, Rama Defence on 31 August 2024. The new company will carry out business in the field of defence sector such as trading, importing, exporting, manufacturing, assembling and supplying of defence equipment, arms, ammunition, explosives and related military and security hardware etc. Powered by Capital Market - Live

Net profit of Rama Steel Tubes declined 10.04% to Rs 6.36 crore in the quarter ended June 2024 as against Rs 7.07 crore during the previous quarter ended June 2023. Sales declined 30.68% to Rs 216.64 crore in the quarter ended June 2024 as against Rs 312.52 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales216.64312.52 -31 OPM %5.275.16 - PBDT9.1410.99 -17 PBT7.419.57 -23 NP6.367.07 -10 Powered by Capital Market - Live

Rama Steel Tubes will hold a meeting of the Board of Directors of the Company on 14 August 2024.Powered by Capital Market - Live