Hariom Pipe Industries Shares: Shares of Hariom Pipe Industries soared over 12% to its all-time high of Rs 319.90 on the NSE on Friday, 25 November. This jump in the shares of the company has completed the installation of 15-tonne Electric Melting Furnace and the company has also started commercial production from today. A melting furnace is a type of furnace where metals are melted.
Hariom Pipe said in a notice sent to the stock markets, “The company has completed the construction of 15-tonne electric melting furnace and commercial production has also started from Friday 25 November. This will increase the production capacity of MS Billets of the company from the existing 95,832 MT per annum to 1,04,232 MT per annum.”
After this news, strong buying was seen in the shares of Hariom Pipe today. At the close of trading, the company’s shares closed at Rs 317.90, up 11.35 per cent, on the NSE. The shares of Hariom Pipe were listed on the stock exchanges on April 13 this year. The company brought its IPO at an issue price of Rs 153. In this way, the company’s shares have jumped more than 100 percent from their issue price.
Hariom Pipe’s September quarter results were mixed. The company’s net profit increased by 29% year-on-year to Rs 9.27 crore in the September quarter. At the same time, its revenue has come down by 10.8 percent to Rs 127.2 crore on a quarterly basis. The company’s revenue in the June quarter was Rs 142.6 crore.
Apart from this, the company’s operating profit (EBITDA) also increased by 12.9 percent year-on-year to Rs 16.22 crore in the September quarter. At the same time, its operating margin increased by 0.17 percent to 12.77 percent, which was 12.6 percent in the same quarter last year.