Latest news with #RichiBansal
&w=3840&q=100)
Business Standard
3 days ago
- Business
- Business Standard
Rama Steel jumps 13% on renewable energy foray; stock up 25% in 3 days
Shares of Rama Steel Tubes soared nearly 13 per cent on Friday's intraday session after the company entered the renewable energy sector through a joint venture partnership in a 225 megawatt (Mw) solar power project. Steel tube manufacturer's stock rose as much as 12.8 per cent during the day to ₹14.9 per share, a day after the stock jumped 18 per cent. The stock pared gains to trade 8.4 per cent higher at ₹14.3 apiece, compared to a 0.13 per cent advance in Nifty 50 as of 9:34 AM. The company's shares extended their rally for a third straight session, gaining 25 per cent over the past three trading days. The counter has risen 19.3 per cent this year, compared to a 4.5 per cent advance in the benchmark Nifty 50. Rama Steel Tubes has a total market capitalisation of ₹2,203.9 crore. Track LIVE Market Updates Here Rama Steel's strategic foray into renewable energy Rama Steel announced a strategic investment in the renewable energy sector through a joint venture partnership in a 225 Mw solar power project under the Government of India's Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM) scheme. The project is being implemented through Onix IPP, a Special Purpose Vehicle (SPV), and spans multiple locations in Maharashtra. Power Purchase Agreements (PPAs) have been signed with the Maharashtra State Electricity Distribution Company Limited (MSEDCL) at a fixed tariff of ₹3.04 per unit for 25 years. The SPV is projected to generate gross annual revenue of ₹1,081.13 million, with a total revenue visibility of ₹27,028.13 million over 25 years. With a 10 per cent equity stake in Onix IPP, RSTL's share of gross annual revenue is expected to be ₹108.11 million, translating to ₹2,702.81 million over the project's lifetime. This move marks Rama Steel Tubes' entry into the fast-growing renewable energy sector, reinforcing its commitment to Environmental, Social and Governance (ESG) goals, and creating long-term value for shareholders, it said in a statement. "We are proud to be part of this landmark renewable energy initiative. Our strategic investment in the 225 MW PM-KUSUM project not only strengthens our ESG profile but also diversiϐies our revenue base," Richi Bansal, whole time director and chief executive officer, said. "This is a future-forward step aligned with India's net-zero vision and rural empowerment." About Rama Steel The company's manufacturing facilities are located at Sahibabad in Ghaziabad District of Uttar Pradesh and Khopoli in Raigarh District of Maharashtra. The total installed capacity stood at 96,000 MT. The product applications have usage in various industries, including automobiles, infrastructure, real estate and furniture. The key products in the portfolio include galvanised tubes, ERW black steel pipes and tubes, scaffolding pipes and tubes, structural steel products and hollow sections.
Mint
3 days ago
- Business
- Mint
Penny stock under ₹15: Rama Steel Tubes share price soars 18% on renewable energy foray
Multibagger penny stock in focus today: Shares of Rama Steel Tubes, a leading manufacturer of branded steel products in India, spiked up 18.2% in intraday trade on Thursday, June 05, to hit a 5-month high of ₹ 13.84 apiece following its entry into the renewable energy segment by acquiring interest in a 225 MW PM-KUSUM solar power initiative. In an exchange filing today, the company announced an updated strategic investment in the renewable energy space through its participation as a joint venture (JV) partner in a 225 MW solar power project under the Government of India's ambitious PM-KUSUM The project, structured under Onix IPP, a Special Purpose Vehicle (SPV), is spread across multiple locations in Maharashtra. It has successfully signed Power Purchase Agreements (PPAs) with the Maharashtra State Electricity Distribution Company Limited (MSEDCL) at a fixed tariff of ₹ 3.10 per unit for a 25-year term. This investment marks RSTL's significant diversification into the clean energy space. The company said that the participation ensures stable long-term returns from the green and renewable energy sector. With its 10% stake in the SPV, the company will proportionally benefit from recurring income, adding a new dimension of sustainability-linked revenue to its business portfolio. As part of this venture, Rama Steel holds a 10% equity stake in Onix IPP. The project is expected to generate gross annual revenue of ₹ 108.11 crore, translating to a total revenue of ₹ 2,702.81 crore over the 25-year PPA period. Based on its stake, RSTL is projected to earn ₹ 10.81 crore annually, resulting in a total share of ₹ 270.28 crore over the entire duration of the agreement. Mr Richi Bansal, whole time director & chief executive officer, said, "we are proud to be part of this landmark renewable energy initiative. Our strategic investment in the 225 MW PM-KUSUM project not only strengthens our ESG profile but also diversifies our revenue base. This is a future-forward step aligned with India's net-zero vision and rural empowerment.' Earlier, the company entered the defence sector by incorporating Rama Defence Private Limited, which will engage in trading, importing, exporting, manufacturing, assembling, and supplying defence equipment, arms, ammunition, explosives, and related military and security hardware. The company, which operates in the steel tubes and pipes manufacturing sector, has seen its shares skyrocket 177% in the last three years and 3,217% over the past five years. The company's shares have been trading ex-split in the ratio of 2:1 since March 2024.
Mint
3 days ago
- Business
- Mint
Penny stock under ₹15: Rama Steel Tubes share price soars 18% on renewable energy foray
Multibagger penny stock in focus today: Shares of Rama Steel Tubes, a leading manufacturer of branded steel products in India, spiked up 18.2% in intraday trade on Thursday, June 05, to hit a 5-month high of ₹ 13.84 apiece following its entry into the renewable energy segment by acquiring interest in a 225 MW PM-KUSUM solar power initiative. In an exchange filing today, the company announced an updated strategic investment in the renewable energy space through its participation as a joint venture (JV) partner in a 225 MW solar power project under the Government of India's ambitious PM-KUSUM The project, structured under Onix IPP, a Special Purpose Vehicle (SPV), is spread across multiple locations in Maharashtra. It has successfully signed Power Purchase Agreements (PPAs) with the Maharashtra State Electricity Distribution Company Limited (MSEDCL) at a fixed tariff of ₹ 3.10 per unit for a 25-year term. This investment marks RSTL's significant diversification into the clean energy space. The company said that the participation ensures stable long-term returns from the green and renewable energy sector. With its 10% stake in the SPV, the company will proportionally benefit from recurring income, adding a new dimension of sustainability-linked revenue to its business portfolio. As part of this venture, Rama Steel holds a 10% equity stake in Onix IPP. The project is expected to generate gross annual revenue of ₹ 108.11 crore, translating to a total revenue of ₹ 2,702.81 crore over the 25-year PPA period. Based on its stake, RSTL is projected to earn ₹ 10.81 crore annually, resulting in a total share of ₹ 270.28 crore over the entire duration of the agreement. Mr Richi Bansal, whole time director & chief executive officer, said, "we are proud to be part of this landmark renewable energy initiative. Our strategic investment in the 225 MW PM-KUSUM project not only strengthens our ESG profile but also diversifies our revenue base. This is a future-forward step aligned with India's net-zero vision and rural empowerment.' Earlier, the company entered the defence sector by incorporating Rama Defence Private Limited, which will engage in trading, importing, exporting, manufacturing, assembling, and supplying defence equipment, arms, ammunition, explosives, and related military and security hardware. The company, which operates in the steel tubes and pipes manufacturing sector, has seen its shares skyrocket 177% in the last three years and 3,217% over the past five years. The company's shares have been trading ex-split in the ratio of 2:1 since March 2024. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Business Standard
3 days ago
- Business
- Business Standard
Rama Steel soars after investment in 225 MW PM-KUSUM solar project
Rama Steel Tubes (RSTL) soared 14.19% to Rs 13.36 after the company announced a strategic investment in the renewable energy sector through a 10% equity stake in a 225 MW solar power project under the Government of India's PM-KUSUM scheme. The project, developed by Onix IPP, a Special Purpose Vehicle (SPV), is spread across multiple locations in Maharashtra and has signed power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company (MSEDCL). These PPAs guarantee a fixed tariff of Rs 3.10 per unit for 25 years, ensuring stable and predictable revenue streams. Financially, the project is estimated to generate gross annual revenue of Rs 108.11 crore, with Rama Steel's share amounting to approximately Rs 10.81 crore per year. Over the 25-year PPA term, the company expects total revenues of around Rs 270.28 crore from this investment. This initiative aligns with the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan) scheme, which aims to promote solar energy generation on barren and government-owned lands, fostering rural development, energy infrastructure, and local economic empowerment. Richi Bansal, whole time director & chief executive officer, Rama Steel Tubes, said, "Our investment in the 225 MW PM-KUSUM project not only strengthens our ESG profile but also diversifies our revenue base." Rama Steel Tubes has been a pioneer in India's steel tube manufacturing sector, offering a wide range of products including pre-galvanized, structural, and hollow sections. On a consolidated basis, the company's net profit declined 4.07% to Rs 6.84 crore while net sales rose 9.29% to Rs 293.20 crore in Q4 March 2025 over Q4 March 2024.
