In early trading on September 9, Rama Steel Tubes fell more than 9%, ending a five-session winning run, as investors rushed to book some profits. The shares had increased by over 60% in the last five sessions.
Rama Steel Tubes’ swift rise was triggered by strategic collaboration with Onix Renewable.
In the exchange filing, the company shared, “This partnership will focus on leveraging the expertise of Rama Steel Tubes to provide steel structures along with single-axis trackers, and will also focus on dual-axis trackers to be expanded in the future essential for solar projects undertaken by Onix Renewable.”
As of 10:39 am, Rama Steel Tubes shares were trading 9.38% lower at Rs 14.97 on the NSE.
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Rama Steel Tubes