Surya Roshni

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Shares of Surya Roshni hit a 14-month high of Rs 711.35, as they surged 10 per cent on the BSE in Friday's intra-day trade in an otherwise subdued market.

The company's steel pipes segment Ebitda/tonne jumped 76 per cent YoY to Rs 6,733 led by strong growth in value added products (mainly API pipes)

Total expenses were at Rs 1,899.51 crore, down 3.91 per cent in the December quarter of 2022-23 compared to the year-ago period

Agrawal joins Surya from Luminous Power Technology Pvt Ltd, where he was senior vice president and responsible for the company's home electrical business

As the company's major sales comes from rural, semi urban & exports; Going forward, the management expects home appliances and pipe segments to perform well back by various government initiatives.

The strong orderbook for exports, API coated pipes and spiral pipes are expected to drive the growth in the upcoming quarters.

APL Apollo said Q3FY22 sales volume of 402,729 tons declined QoQ due to channel de-stocking in anticipation of steel price correction and extended monsoons, which impacted the construction activity.

Recently, Employees Retirement System of Texas - Self Managed Portfolio bought 427,789 equity shares representing 0.79 per cent stake in the company

With a focus on improvement in product mix in steel pipes segment, the broking firm IDBI Capital expect Surya Roshni's margins to improve over the next two-three years

The company has obtained order amounted to Rs. 170.52 crore (excluding GST) for supply of coated line pipes to lndradhanush Gas Grid Limited (IGGL) for NorthEast gas grid pipeline project

We expect domestic travels to reach February levels by year end, said IndiGo CEO Ronojoy Dutta

The stock was trading close to its record high level of Rs 522 touched on February 9, 2018

CARE Ratings upgraded ratings of the company's short-term bank facilities and commercial paper with reaffirmation of long term bank facilities

The company has obtained orders aggregating to Rs 72.62 crore for supply of API 5L Grade 3LPE Coated and bare Pipes to Indian Oil Corporation for gas pipeline projects in Bihar & Tamil Nadu

The company has obtained orders aggregating to Rs 272.86 crore (excluding GST) for the supply of coated API line pipes to GAIL and Indradhanush Gas Grid for North-East gas grid pipe line projects

In the past three months, the stock has zoomed 104 per cent, against 14 per cent rise in the S&P BSE Sensex

The hits a record high of Rs 522, up 12% on BSE in intra-day trade after the company said it has received an order worth of Rs 839 million for supply of LED street and tube lights.

The order worth Rs 55.19 crore is for LED bulbs and street lights across four states