Ratnamani Metals gains 4% on Rs 98 crore order win from oil & gas sector

Shares of Ratnamani Metals & Tubes (RMTL) hit a record high of Rs 2,299, up 4.5 per cent on the BSE in Friday’s intra-day trade after the company announced it has received an order worth Rs 98 crore (excluding GST) for the supply of carbon steel pipes from the oil & gas sector. The order is expected to be executed in 5-12 months.

Earlier this month, the company received various orders aggregating to Rs 144 crore (excluding GST) for the supply of stainless steel pipes and carbon steel pipes from the oil & gas sector which are to be executed in the next three to eight months.

RMTL in the financial year 2020-21 (FY21) annual report said, the outlook looks promising, with opportunities across oil & gas,