Penny stock Rama Steel Tubes (NSE: RAMASTEEL) has been witnessing tremendous growth for the past few days.
Share of smallcap company Rama Steel Tubes rose by nearly 10% to Rs 15.47 on Wednesday.
The company’s share closed at Rs 15.48 on Wednesday. The 52-week high of Rama Steel Tubes share is Rs 17.51.
While at the same time, the 52-week low for the share of the company is Rs 9.91. The company has recently made 2 big announcements.
Rama Steel Tubes has offered its shareholders bonus shares three times since the year 2016.
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Share Climb 53% Over 15 Days
Penny stock Rama Steel Tubes has risen by more than 53% in the last 15 days. The share of Rama Steel Tubes was at Rs 10.10 on 26 August 2024.
The company’s share reached Rs 15.47 on 11 September 2024. In the last 5 days, the share of Rama Steel Tubes has seen a rise of 21 percent.
The market capitalization for the firm has risen to the sum of Rs 2,367 crore.
The Company Has Distributed Bonus Shares 3 times
The small-cap company had given bonus shares in March 2016 in a ratio of 4:1. This means that the company provided 4 bonus shares in exchange for one share.
The company associated with the iron and steel products industry has again distributed bonus shares in January 2023 in the ratio of 4:1.
Rama Steel Tubes has given bonus shares in March 2024 in the ratio of 2:1. That is, the company has given 2 bonus shares to its shareholders for every 1 share.
The Company Has Made 2 Big Announcements
Smallcap company Rama Steel Tubes is now entering the defence sector. The company has formed its wholly-owned entity Rama Defence Private Limited for the defence sector.
This company received the Certificate of Incorporation from the Corporate Ministry on 2 September 2024.
Apart from this, Rama Steel Tubes has also partnered with Onyx Renewable. It will provide steel structures and single-axis trackers for Onyx Renewable for solar projects.
Quick Fact
| Company name | Rama Steel Tubes |
|---|---|
| Share rise (15 days) | 53% |
| Share rise (5 days) | 21% |
| Share price (11 Sept 2024) | ₹15.47 |
| Share price (26 Aug 2024) | ₹10.10 |
| Market cap | ₹ 2,367 crore |
| Bonus shares (March 2016) | 4:1 |
| Bonus shares (Jan 2023) | 4:1 |
| Bonus shares (March 2024) | 2:1 |
| New venture | Defence sector |
| New entity | Rama Defence Private Limited |
| Entity incorporation date | 2 Sept 2024 |
| Collaboration | Onyx Renewable |
| Supply | Steel structures, single axis trackers |
| Project type | Solar |
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