{"id":117426,"date":"2024-01-16T14:29:00","date_gmt":"2024-01-16T08:59:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=117426"},"modified":"2024-01-16T15:18:25","modified_gmt":"2024-01-16T09:48:25","slug":"steel-stock-falls-by-4-after-the-promoter-sold-1-75-stake-in-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/steel-stock-falls-by-4-after-the-promoter-sold-1-75-stake-in-the-company\/","title":{"rendered":"Steel stock falls by 4% after the Promoter sold 1.75% stake in the company\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1446754612\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of this small-cap stock fell to an intraday low of 4 percent to Rs 138.65 per share after the company promoter sold a stake via the bulk deal.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2745876448\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Hi-Tech Pipes is a small-cap stock, with a market capitalization of Rs 1,956 crore. At 12:50 p.m, the company shares were trading at Rs 142.30 apiece, down 3.33 percent from the previous close price.\u00a0<\/p><p>As per NSE deals, The company promoter Ajay Kumar &amp; Sons sold 24 lakh equity shares, or equivalent to a 1.75 percent stake in the company at an average price of Rs 148.5 per share. However, Bandhan Core Equity Fund picked 14 lakh equity shares in the company at the same price.&nbsp;<\/p><p>Hi-Tech Pipes business of manufacturing of ERW Steel Round &amp; Section Pipes, cold Rolled Strips &amp; Engineering Products, and distribution of the same across india.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2092423285\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company\u2019s total Revenue increased by 11% Y-O-Y to Rs.630.09 Cr. in Q3 FY24 vs. Rs.569.29 Cr. in Q3FY23. Overall Revenue from Operation for 9MFY24 is also up by 20% to Rs.2018 Cr. as Compared to Rs.1683.98 Cr. in 9MFY23.&nbsp;<\/p><p>The recent growth of the company\u2019s revenue is mainly led by higher sales volume, better sales realization, and an increase in the share of value-added products.&nbsp;<\/p><p>While PAT increased by 10.10% Y-O-Y to Rs. 14.33 Cr. in Q3FY24 as compared to Rs. 13.02 Cr. in Q3FY23 and 50% in 9MFY24 to Rs.32.83 Cr. as compared to Rs. 21.88 Cr. in 9MFY23.&nbsp;<\/p><p>The company\u2019s New State-of-the-art ERW Pipes Plant at Sananad is expected to be operational by Q4FY24. This plant will significantly increase the Overall Production Capacity mainly to cater to West India and the Export Markets.&nbsp;<\/p><p>Hi-Tech Pipes shares have gained 70% in the last six months and 58 percent in a year. The marquee clientele includes Tata Group, Reliance, NCC Ltd, NTPC, Airtel, and many more.&nbsp;<\/p><p>Hi-Tech Pipes is one of India\u2019s leading manufacturers of Steel Pipes with a presence in more than 5,000 retail stores.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-1843877628\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Hi-Tech Pipes is a dominant player in the Indian piping industry and a leading manufacturer and supplier of ERW (Electric Resistance Welding) pipes.<\/p><p>The company specializes in steel tubes and pipes for a variety of industries, such as infrastructure, telecommunications, defence, railroads, airports, real estate, and automobiles.&nbsp;<\/p><p><strong>Written by Omkar Chitnis&nbsp;<\/strong><\/p><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>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.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2866705231\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of this small-cap stock fell to an intraday low of 4 percent to Rs 138.65 per share after the company promoter sold a stake via the bulk deal.&nbsp; Hi-Tech Pipes is a small-cap stock, with a market capitalization of Rs 1,956 crore. At 12:50 p.m, the company shares were trading at Rs 142.30 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":40460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-117426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Steel stock falls by 4% after the Promoter sold 1.75% stake in the company\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The shares of this small-cap stock fell to an intraday low of 4 percent to Rs 138.65 per share after the company promoter sold a stake via the bulk deal.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/steel-stock-falls-by-4-after-the-promoter-sold-1-75-stake-in-the-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steel stock falls by 4% after the Promoter sold 1.75% stake in the company\u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of this small-cap stock fell to an intraday low of 4 percent to Rs 138.65 per share after the company promoter sold a stake via the bulk deal.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/steel-stock-falls-by-4-after-the-promoter-sold-1-75-stake-in-the-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-16T08:59:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-16T09:48:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/05\/Pipes-and-tubes-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/steel-stock-falls-by-4-after-the-promoter-sold-1-75-stake-in-the-company\/\",\"url\":\"https:\/\/tradebrains.in\/features\/steel-stock-falls-by-4-after-the-promoter-sold-1-75-stake-in-the-company\/\",\"name\":\"Steel stock falls by 4% after the Promoter sold 1.75% stake in the company\u00a0 - 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