Ratnamani Metals gains on order win

Ratnamani Metals & Tubes informed the bourses that it has received two orders totalling to Rs. 99 crore to supply Titanium Welded Tubes.

Out of these, Rs. 73 crore are domestic orders and would be completed by May 2020. Remaining orders worth Rs. 26 crore are export orders and would be completed by December 2019.

The company’s order book as on Q3FY19 stood at Rs. 1,322 crore. The order book split up stood at Carbon Steel (69 per cent) and high margin stainless steel (31 per cent).

The company is a manufacturer of varied range of stainless steel and carbon steel pipes and tubes, which are used in industries like oil & gas refineries, power, water and chemicals. The company enjoys ~40 per cent domestic market share of stainless steel tubes.

On Monday, the stock of Ratnamani Metals & Tubes opened at Rs. 920 per share and jumped by nearly 3 per cent and made an intraday high of Rs. 939.60 on the BSE.