Hi-Tech Pipes Ltd commences commercial production at Sanand Unit-II

Hi-Tech Pipes Limited (NSE: HITECH and BSE Scrip Code: 543411), a pioneering force in the steel Pipe industry, proudly announces the commencement of commercial production at Sanand Unit-II Phase-1 (Gujarat) Capacity:1,70,000 MT. This facility represents a significant milestone in our commitment to delivering high-quality steel products to meet the evolving needs of our customers worldwide.

Strategically located in Sanand (Gujarat), the new manufacturing unit boasts cutting-edge technology and innovative processes designed to optimize efficiency and ensure the highest standards of product quality. Equipped with the latest machinery and operated by a team of skilled professionals, the facility is poised to revolutionize the steel pipes market with its unparalleled capabilities. With addition of Sanand Unit-II Phase-1 the total Installed Capacity of the company has now reached to7,50,000 MT.

Commenting on this occasion, Mr. Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes Ltd. Said, "We are thrilled to announce the commencement of commercial production at our new steel pipes manufacturing unit. This state-of-the-art facility reflects our ongoing dedication to innovation and excellence in the steel Pipe industry. With its advanced technology and expert craftsmanship, we are well-positioned to meet the increasing demand for high-quality steel pipes across various sectors.

Sanand Unit -II (Phase-1) Project of the company equipped for manufacturing high end pipes for solar trackers and has already got the approval from world's largest solar tracker manufacturers. Phase-II will be focused towards the Oil and Gas sector with highly specialised surface coatings. In line of our vision, this commencement will help us in increasing the share of value added products and overall margins of the Company going forward.

Shares of Hi-Tech Pipes Limited was last trading in BSE at Rs. 117.40 as compared to the previous close of Rs. 116.35. The total number of shares traded during the day was 186908 in over 1710 trades.

The stock hit an intraday high of Rs. 118.65 and intraday low of 112.40. The net turnover during the day was Rs. 21620003.00.

Source : Equity Bulls

Keywords

HiTechPipes INE106T01017 CommercialProduction Sanand Unit2 Phase1