Metal stock is up 126% from 52-week-low, record date fixed for stock splitPersonal FinanceMetal stock is up 126% from 52-week-low, record date fixed for stock split

Metal stock is up 126% from 52-week-low, record date fixed for stock split


With a market valuation of 1,132v Cr, Hi-Tech Pipes Ltd. is a small-cap company with operations in the metal industry. In the Indian pipe market, Hi-Tech Pipes Ltd (HTPL) is a well-known brand name. Hi-Tech Pipes, one of India’s top suppliers and manufacturers of ERW pipes, is headquartered in New Delhi. A broad range of steel tubes and pipes are produced by Hi-Tech Pipes.

The company has said in a stock exchange filing that “In continuation to our earlier communication dated March 03. 2023 with respect to Sub-Division of One (1) Equity Share of face value of Rs. 10/- each fully paid up into Ten (10) Equity Shares of Re. I/- each fully paid up w.e.f. the record date i.e. March 17. 2023. The Depositories have allotted New ISIN: INE106T01025 to the company. Please be informed that the shares with reduced face value will take effect in the new ISIN.”

Hi-Tech Pipes said its consolidated net profit for the December 2022 quarter rose by almost 28% to Rs. 13.02 crore from Rs. 10.16 crore during the same period of the previous fiscal. Moreover, its total income increased to 569.80 crore from 440.03 crore in the same period last year. In the December 2022 quarter, its expenses increased from 426.18 crore in December 2021 quarter to 552.40 crore. Also, the company paid a final dividend of 0.50 per equity share worth 10 during the quarter under review for the fiscal year 2021–2022.

The shares of Hi-Tech Pipes closed today on the NSE at 891.10, up by 3.30% from the previous close of 862.60. The shares of Hi-Tech Pipes closed today on the NSE at 891.10, up by 3.30% from the previous close of 862.60. The stock recorded a total volume of 62,480 shares compared to a 20-Day average volume of 41,816 shares. In the last 1 year, the stock has gained 74.52% and on a YTD basis, the stock has gained 4.28% so far in 2023. 

The stock touched a 52-week-high of 989.65 on (23-Jan-2023) and a 52-week-low of 393.20 on (20-June-2022), indicating that at the current market price the stock is trading 9.95% below the 1 year high and 126.62% above the 1 year low. During the month ended February 2023, the company recorded a promoter shareholding of 57.81%, FIIs stake of 1.11%, DIIs stake of 3.91% and a public stake of 37.17%.


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