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HI-TECH PIPES Gains 6%; BSE METAL Index Up 0.2%
Mon, 7 Oct 9:27

HI-TECH PIPES Gains 6%; BSE METAL Index Up 0.2%Image source: asbe/www.istockphoto.com

HI-TECH PIPES share price has zoomed 6% and is presently trading at Rs 202.0.

Meanwhile, the BSE METAL index is at 34,331.8 (up 0.2%).

Among the top gainers in the BSE METAL index today are SAIL (up 0.4%) and Hindustan Zinc (up 0.3%).

APOLLO TUBES (down 1.3%) and Hindalco (down 0.3%) are among the top losers today.

Over the last one year, HI-TECH PIPES has moved up from Rs 81.3 to Rs 202.0, registering a gain of Rs 120.7 (up 148.6%).

On the other hand, the BSE METAL index has moved up from 23,025.5 to 34,331.8, registering a gain of 49.1% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 120.7%), Coal India (up 70.4%) and Hindustan Zinc (up 69.2%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 82,019.7 (up 0.4%).

The top gainers among the BSE Sensex today are ITC (up 1.5%) and HCl Tech. (up 1.2%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,103.6 (up 0.4%). Shriram Transport and Trent are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 82,019.7, registering a gain of 16,507.6 points (up 25.2%).

HI-TECH PIPES Financial Update...

HI-TECH PIPES net profit grew 125.0% YoY to Rs 181 million for the quarter ended June 2024, compared to a profit of Rs 80 million a year ago. Net sales rose 35.0% to Rs 8,670 million during the period as against Rs 6,422 million in April-June 2023.

For the year ended March 2024, HI-TECH PIPES reported 16.6% increase in net profit to Rs 439 million compared to net profit of Rs 377 million during FY23. Revenue of the company grew 13.1% to Rs 26,993 million during FY24.

The current Price to earnings ratio of HI-TECH PIPES, based on rolling 12 month earnings, stands at 65.8.

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