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

Earlier, the company through postal ballot had approved sub-division of its shares from 1 equity share of face value of Rs 10 each to 10 shares of face value of Re 1 each, it said.

March 17 has been fixed as the record date. On the ex-split date, investors holding the stock till the record date will receive new shares in demat accounts.

"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.

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 Pipes shares gained 3.7 percent to close at Rs 898.2, while Sula Vineyards surged 14.7 percent to Rs 373.2

Net Sales are expected to increase by 53.8 percent Y-o-Y (up 13 percent Q-o-Q) to Rs. 677 crore, according to Sharekhan.

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.

The USFDA has issued 8 observations for the drug product facility and API facility at Mandideep. The US drug regulator has inspected company's Mandideep unit-1 facility during November 14-23, 2022.

Easy Trip Planners Ltd., BSL Ltd, V-Marc India Ltd., Kaynes Technology India Ltd. and Hi-Tech Pipes, hit their fresh 52-week highs during the day.

The Nifty Bank index closed 0.26 per cent up at 42457.05.

BPCL, Nestle India, Power Grid, Bharti Airtel and Kotak Bank were among the top losers on NSE in today's trade.

The Nifty Auto index closed 0.39 per cent up at 12745.5.

The Nifty IT index closed 0.81 per cent up at 29446.9.

The Nifty Pharma index closed 0.33 per cent up at 12836.35.

The Nifty Realty index closed 1.22 per cent down at 437.7.

Yes Bank's board has approved the sale of stressed assets worth around Rs 48,000 crore to JC Flowers ARC, which has turned out to be the sole bidder for the portfolio.