Rama Steel Tubes Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Rama Steel Tubes will hold a meeting of the Board of Directors of the Company on 22 April 2024.

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The Board of Rama Steel Tubes at its meeting held on 08 April 2024 has approved allotment of 6,70,926 equity shares on conversion of warrants and 93,92,964 equity shares as bonus shares reserved for such warrants.

Post allotment, the paid up equity share capital has increased to Rs. 155,42,31,075/- divided into 155,42,31,075 equity shares of face value of Re. 1/- each.

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UR Sugar Industries Ltd, Virinchi Ltd, Tejnaksh Healthcare Ltd and Raw Edge Industrial Solutions Ltd are among the other losers in the BSE's 'B' group today, 20 March 2024.

Rama Steel Tubes Ltd tumbled 12.25% to Rs 13.39 at 14:32 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 35.85 lakh shares were traded on the counter so far as against the average daily volumes of 13.22 lakh shares in the past one month.

UR Sugar Industries Ltd crashed 6.72% to Rs 14.3. The stock was the second biggest loser in 'B' group.On the BSE, 4.03 lakh shares were traded on the counter so far as against the average daily volumes of 3.08 lakh shares in the past one month.

Virinchi Ltd lost 5.21% to Rs 30.54. The stock was the third biggest loser in 'B' group.On the BSE, 1.4 lakh shares were traded on the counter so far as against the average daily volumes of 3.31 lakh shares in the past one month.

Tejnaksh Healthcare Ltd slipped 5.16% to Rs 24.61. The stock was the fourth biggest loser in 'B' group.On the BSE, 11099 shares were traded on the counter so far as against the average daily volumes of 25302 shares in the past one month.

Raw Edge Industrial Solutions Ltd fell 5.14% to Rs 36.9. The stock was the fifth biggest loser in 'B' group.On the BSE, 3278 shares were traded on the counter so far as against the average daily volumes of 11056 shares in the past one month.

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The key domestic indices pared some gains and traded near the flat line in the mid-afternoon trade. The Nifty traded above the 21,800 level after hitting the day’s low of 21,710.20 in mid-morning trade. Oil & gas shares advanced after declining in the past trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 68.73 points or 0.10% to 72,085.90. The Nifty 50 index rose 23.25 points or 0.11% to 21,840.70.

In the broader market, the S&P BSE Mid-Cap index shed 0.02% and the S&P BSE Small-Cap index rose 0.13%.

The market breadth was weak. On the BSE, 1,637 shares rose and 2,095 shares fell. A total of 114 shares were unchanged.

Economy:

The provisional figures of Gross collection of Direct Taxes (before adjusting for refunds) for the Financial Year 2023-24 stand at Rs 22,27,067 crore compared to Rs 18,75,535 crore in the corresponding period of the preceding financial year, showing a growth of 18.74% over the collections of FY 2022-23.

The Gross collection of Rs 22,27,067 crore includes Corporation Tax (CIT) at Rs 10,98,183 crore and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at Rs 11,25,228 crore. Minor head wise collection comprises Advance Tax of Rs 9,11,534 crore; Tax Deducted at Source of Rs 10,44,511 crore; Self-Assessment Tax of Rs. 1,73,296 crore; Regular Assessment Tax of Rs 73,548 crore; and Tax under other minor heads of Rs 24,177 crore.

Buzzing Index:

The Nifty Oil & Gas Index gained 1.04% to 11,029.10. The index declined 1.69% in the past trading session.

Oil India (up 2.69%), Aegis Logistics (up 2.01%), Hindustan Petroleum Corporation (up 1.91%), Indian Oil Corporation (up 1.84%), Gujarat State Petronet (up 1.64%), Mahanagar Gas (up 1.52%), Bharat Petroleum Corporation (up 1.51%), Oil & Natural Gas Corpn (up 1.29%), Reliance Industries (up 1.26%) and GAIL (India) (up 0.32%) advanced.

On the other hand, Gujarat Gas (down 1.18%), Castrol India (down 0.74%) and Adani Total Gas (down 0.66%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.04% to 7.092 as compared with the previous close of 7.095.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.1325, compared with its close of 83.0300 during the previous trading session.

MCX Gold futures for 5 April 2024 settlement rose 0.08% to Rs 65,635.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.38% to 103.99.

The United States 10-year bond yield declined 0.16% to 4.277.

In the commodities market, Brent crude for May 2024 settlement lost 58 cents or 0.66% to $86.80 a barrel.

Stocks in spotlight:

Rama Steel Tubes tumbled 11.47%. The company said that it has managed to reduce its sanctioned bank loans limits by Rs 115.98 crore, which is 39% of total existing sanctioned limits over the year.

Carysil rose 0.10%. The household appliance maker announced that its board has approved a proposal to raise capital up to Rs 150 crore through qualified institutions placement (QIP)/ preferential issue.

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