Hi-Tech Pipes Ltd recently received a ₹105 crore deal from the renewable energy industry for supplying ERW steel pipes.

According to an exchange filing, the orders placed by “key customers” will be completed within the next three months. The goods will be manufactured at the company’s factory in Sanand, Gujarat.

Hi-Tech Pipes Ltd shares surged over 5% on Tuesday, reaching a new high of ₹192.75 on the BSE.

Numerous renewable energy projects, such as wind farms, solar installations and other green energy projects, will make use of the steel pipes made by Hi-Tech Pipes.

As of 12:32 pm, Hi-Tech Pipes shares were trading 0.91% higher at Rs 184.35 on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

One of the multibagger stocks that the Indian stock market has produced in recent years is Hi-Tech Pipes shares. The positional investors in the multibagger stock have received returns of over 85%, while the share price of Hi-Tech Pipes has increased by about 600% over the past five years.

Hi-Tech Pipes’ share opened at ₹149 on the NSE and reached an intraday high of ₹159.07 per share, indicating a 7 percent gain. The multibagger stock reached an intraday high of ₹170 per share.

Hi-Tech Pipes Limited today reported its highest-ever sales volume in the first quarter of the current fiscal year. In Q1, Hi-Tech Pipes saw a 45 percent rise in overall sales volume to 1,22,155 MT from 84,489 MT in the same time the previous year, as well as a 13 percent increase Q-o-Q from the sales volume of 1,07,721 MT in Q4FY24.

Hi-Tech Pipes shares jumped 2.14% at ₹151.95 on the NSE as of 2:10 PM.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.