Hi-Tech Pipes splits shares in 10:10 ratio to increase liquidity
The company has also signed an agreement with the Uttar Pradesh government to set up a steel manufacturing facility in the state at an investment of Rs 510 crore.Besides steel pipes, the company also produces hollow sections, tubes, cold rolled coils and strips, road crash barriers, solar mounting structures and a variety of other galvanised products
"The commercial production of our new colour coating line has commenced this month. We are happy that this high margin value-added product will further help in strengthening the companys margin on blended Level in medium to long term," Bansal said.
Morgan Stanley picks stake in this Tata group company
Tata Metaliks will release its third quarter results later in the day. In the previous quarter, revenues increased by 36% over Q2FY22, largely driven by higher sales volume of both Pig Iron and Ductile Iron Pipe.
Hi-Tech Pipe approves fundraising via preferential issue of warrants and shares
The company will issue these warrants to promoters, non-promoters investors including qualified institutional buyers (QIBs). However, the issuance of these warrants is subject to approval of shareholders of the company.