Shares of this small-cap Metal stock jumped 9.50 percent in Friday’s trading session after the company reported financial results for the quarter ended September 2023. In the past six months, the company’s stock has gained nearly 60 percent.
With a market capitalization of Rs 2,854.55 crores, the stocks of Venus Pipes and Tubes Limited opened their trading hour at Rs 1,352.40 and currently trades at Rs 1,406.45, zooming approximately 9.50 percent as compared to the previous close of Rs 1,285.25 apiece.
Such sharp movements in the company’s stock prices were observed after it published financial results for the quarter ended September 2023.
The company, on a QoQ basis, reported an increase in both the basic business parameters such as the operating revenues and net profits with the former increasing from Rs 180 crores during Q1FY23-24 to Rs 191 crores during Q2FY23-24, and, the latter, during the same period, increasing from Rs 17 crores to Rs 20 crores.
In addition, the company, on a yearly basis too, showcased an increase in the metrics mentioned above with the operating revenues shifting up from Rs 126 crores during Q2FY22-23 to Rs 191 crores during Q2FY23-24, and, the net profits, keeping the timeframe the same, doubling from Rs 10 crores to Rs 20 crores.
Since its listing in May 2022, the company’s stock has given multibagger returns of 323 percent, viz, if someone had invested Rs 1 lakh after listing, it would have converted to Rs 4.23 lakhs.
As per the shareholding pattern data available for the quarter ended September 2023, the company’s Promoters hold a 48.63 percent stake, and the Foreign Institutional Investors (FIIs) hold a 6.60 percent stake in the company.
Founded in 2015, Venus Pipes and Tubes Limited is associated with the business of manufacturing as well as selling stainless-steel pipes and tubes within and outside India. Some of the products offered by the company include stainless steel instrumentation and hydraulic tubes, stainless steel welded pipes, etc under the ‘Venus’ brand name.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
