Rama Steel Tubes share price increased significantly on the National Stock Exchange (NSE) today, reaching 9% to Rs 11.49 at 10:50 AM.
Following the announcement of a strategic partnership between Rama Steel Tubes Limited (RSTL) and Onix Renewable Ltd., the share price increased. The partnership will use RAMA Steel Tubes Ltd’s expertise in providing steel structures and single-axis trackers, with a future focus on dual-axis trackers for Onix Renewable Ltd’s solar projects.
In the exchange filing, the company shared, “RSTL has expanded its expertise and developed specialised steel structures and tracker tubes which will serve as the backbone for Greenfield Solar Projects. We are proud to announce our entry into the Green Energy segment and are determined to deliver products that ensure the highest standards of reliability, durability, and performance, which are critical to the long-term success of solar greenfield projects.”
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