With a market valuation of ₹ 1,124 Cr, Hi-Tech Pipes Ltd. is a small-cap company with operations in the metal industry.

With a market valuation of ₹ 1,124 Cr, Hi-Tech Pipes Ltd. is a small-cap company with operations in the metal industry. In the Indian pipe market, Hi-Tech Pipes Ltd (HTPL) is a well-known brand name. Hi-Tech Pipes, one of India's top suppliers and manufacturers of ERW pipes, is headquartered in New Delhi. A broad range of steel tubes and pipes are produced by Hi-Tech Pipes.

The company has said in a stock exchange filing that “In continuation to our earlier communication dated March 03. 2023 with respect to Sub-Division of One (1) Equity Share of face value of Rs. 10/- each fully paid up into Ten (10) Equity Shares of Re. I/- each fully paid up w.e.f. the record date i.e. March 17. 2023. The Depositories have allotted New ISIN: INE106T01025 to the company. Please be informed that the shares with reduced face value will take effect in the new ISIN."

Hi-Tech Pipes said its consolidated net profit for the December 2022 quarter rose by almost 28% to Rs. 13.02 crore from Rs. 10.16 crore during the same period of the previous fiscal. Moreover, its total income increased to ₹ 569.80 crore from ₹ 440.03 crore in the same period last year. In the December 2022 quarter, its expenses increased from ₹ 426.18 crore in December 2021 quarter to ₹ 552.40 crore. Also, the company paid a final dividend of ₹ 0.50 per equity share worth ₹ 10 during the quarter under review for the fiscal year 2021–2022.

The shares of Hi-Tech Pipes closed today on the NSE at ₹ 877.25, down by 0.99% from the previous close of ₹ 886.00. The stock recorded a total volume of 37,931 shares compared to a 20-Day average volume of 43,942 shares. In the last 1 year, the stock has gained 71.89% and on a YTD basis, the stock has gained 2.66% so far in 2023. 

The stock touched a 52-week-high of ₹ 989.65 on (23-Jan-2023) and a 52-week-low of ₹ 393.20 on (20-June-2022), indicating that at the current market price the stock is trading 11.35% below the 1 year high and 123.10% above the 1 year low. During the month ended February 2023, the company recorded a promoter shareholding of 57.81%, FIIs stake of 1.11%, DIIs stake of 3.91% and a public stake of 37.17%.

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Download the Mint app and read premium stories

Log in to our website to save your bookmarks. It'll just take a moment.

You are just one step away from creating your watchlist!

Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.

Your session has expired, please login again.

You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.

This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp