Hariom Pipe Industries Ltd commences commercial production of MS Pipe Mills, Galvanised Pipe Mill and Cold Roll Mill

Hariom Pipe Industries Limited has completed installation and commenced production from two new MS Pipe Mills at plant located at Mahabubnagar District as stated in the Objects of the Issue in Prospectus dated 07.04.2022. With this, the total installed capacity of MS Pipes has gone up to 1,32,000 MTPA from the current 84000 MTPA.

The company has completed installation and commenced production from galvanized pipe mill at plant located at Mahabubnagar District as per the terms and conditions mentioned in the sanctioned letter dated 22.09.2022 by Canara Bank. The total installed capacity of this Galvanised Pipe Mill is 1,20,000 MTPA.

The company has completed installation and commenced production of its Cold Roll Steel Mill at plant located at Mahabubnagar District as per the terms and conditions mentioned in the sanctioned letter dated 22.09.2022 by Canara Bank.

The impact of the above expansions on the financial performance should be visible starting the second half of the current financial year.

Shares of Hariom Pipe Industries Limited was last trading in BSE at Rs. 647.55 as compared to the previous close of Rs. 649.55. The total number of shares traded during the day was 8037 in over 732 trades.

The stock hit an intraday high of Rs. 659.75 and intraday low of 646.00. The net turnover during the day was Rs. 5243513.00.

Source : Equity Bulls

Keywords

HariomPipeIndustries INE00EV01017 IronandSteelProducts CommercialProduction MSPipeMills GalvanisedPipeMill ColdRollMill