Rama Steel Tubes saw its shares jump more than 58% this week after forming a partnership with Onix Renewable.
On September 4, 2024, the company announced a strategic partnership with Onix Renewable. In addition to providing steel structures and single-axis trackers, this partnership will capitalize on the company’s experience in working on dual-axis trackers, which will be expanded in the future and are crucial for Onix Renewable’s solar projects, said the firm.
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.”
Stock Performance on Friday
– Open: ₹14.74
– High: ₹16.64
– Low: ₹14.44
