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Rama Steel Tubes Share Soars 19.98% on Green Energy Deal

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Synopsis:

Rama Steel Tubes partners with Onix Renewable for solar project steel structures, pushing its share up 19.98%. The deal enhances its renewable energy presence and market value, supporting India's green energy goals.

Rama Steel Tubes has made a significant move into the renewable energy sector by partnering with Onix Renewable Ltd. to supply steel structures and single-axis trackers for solar projects. The company plans to expand into dual-axis trackers as the partnership grows. Rama Steel Tubes has developed specialized steel structures and tracker tubes, essential components for the efficiency and longevity of solar installations.

The company’s CEO, Richi Bansal, emphasized the positive impact of this collaboration on earnings and Rama Steel Tubes' increasing presence in the green energy market. The quality, reliability, and durability of the steel structures are key to the long-term success of solar projects, making this partnership crucial for the renewable energy sector's growth.

Financially, the company's promoters hold a 56.33% stake as of the June quarter, slightly down from 56.7% in March 2024. On the share front, Rama Steel Tubes share price surged 19.98% as of 2:30 PM on September 5 (Money Control), reaching an intra-day high of ₹13.87. This two-day rally has turned the stock positive for 2024, with year-to-date gains of 6%.

This strategic move into green energy positions the company as a key player in supporting India’s renewable energy goals while enhancing its market value. Analysts expect Rama Steel Tubes' share price to continue gaining from this expansion.

Latest Update on Rama Steel Tube Share Price

Rama Steel Tubes share price has declined by a whooping 10% in today's trading session. Only in the three hours of the market opening the shares fell to Rs. 14.86 as of 12:30 PM, down by 10.05% for the day. 

As of 12:30 PM, Nifty50 opened low however, consolidated in the next 2 hours and is currently trading at 24,862, up by a mere 0.04%. Sensex was up by 0.09% and trading at 81,257. Bank Nifty was trading at 50,643 points, up by 0.13%. 

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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The Bajaj Housing Finance Ltd IPO allows investors to buy shares in one of India's leading housing finance companies. It’s significant because it offers investors exposure to the growing housing finance market and a chance to invest in a well-established business.

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The rewards include potential listing gains and long-term growth. Risks involve market volatility and the company’s high debt-to-equity ratio, which could impact its financial health.

When will the Bajaj Housing Finance Ltd IPO shares be listed, and what is the expected market response?

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The shares are expected to list on 16th September 2024, with a positive response due to strong market demand.

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Review the Red Herring Prospectus (RHP), financial statements, and any updates on regulatory filings to understand the company’s financial position and growth potential.

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Typically, promoters and large investors have a lock-up period during which they cannot sell shares. Check the prospectus for specific lock-up period details.

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Existing shareholders may experience dilution of their holdings, but the IPO may also enhance the company’s market value, benefiting long-term investors.

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The company’s dividend policy post-IPO will depend on its financial performance and board decisions. Investors should check the prospectus for any dividend-related details.

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