Small-cap stock below ₹100 Hi-Tech Pipes jumps 6% despite weak bias in the Indian stock market. Here's why
Stock Market Today: Small-cap stock below ₹ 100 — Hi-Tech Pipes — gained more than 6% in the intraday trade on Tuesday despite weak bias in the Indian stock market.
Hi-Tech Pipes's strong performance in the March 2025 quarter pushed the small-cap stock higher in trade today.
During the quarter gone by, Hi-Tech Pipes saw its revenue grow 7.74% to ₹ 734 crore as compared to ₹ 681 crore reported in the year-ago quarter (in Q4FY24). The revenue growth as per Hi-Tech Pipes was driven by robust demand in infrastructure and construction sectors.
Sales volume for the small-cap company increased by 8% year-on-year. Volumes reached 1,16,032 MT, up from 1,07,721 MT in Q4 FY24. The same, as per Hi-Tech Pipes, reflects an increased demand.
Profitability rose by 59% to ₹ 17.63 crore during the January-March 2025 quarter, compared to ₹ 11.12 crore in January- March 2024 quarter.
Earnings before interest, tax, depreciation and amortisation or (EBITDA) came at ₹ 34.93 crore as per Hi-Tech Pipes in Q4FY25, which was comparable to ₹ 35.34 crore reported by the small-cap stock in the same period last year.
Small-cap stock below ₹ 100, Hi-Tech Pipes share price, opened at ₹ 95.70 on Tuesday on the National Stock Exchange of India (NSE). At the opening levels, the scrip was 1% higher than the previous day's closing price of ₹ 94.68.
During the day, Hi-Tech Pipes share price gained further to hit an intraday high of ₹ 110.40, translating into 6% upside in the small-cap stock. Notably the gains by the stock were recorded on a day when the Indian stock market was weak. Nifty corrected around 1% during the intraday trade today.
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