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Ratnamani Metals and Tubes

By Sharekhan 

Tuesday, November 22, 2011

Sharekhan is bullish on Ratnamani Metals and Tubes and has recommended the buy rating on the stock with a target of "" 132. Ratnamani's manufacturing facilities employ state-of-the-art technology to produce a wide range of Stainless Steel Welded / Seamless Tubes & Pipes and Carbon Steel Welded Pipes. The company caters to the niche markets of almost all the emerging sectors like oil and gas, refineries, petrochemicals, process industries, power plants and water distribution. The current market price of the stock is "" Rs100. For the quarter ended September 2011, Ratnamani Metals & Tubes reported a 75.5 percent surge in net sales to "" 308.8 crore. The sales growth was backed by a 99 percent growth in the carbon steel tubes and pipes segment (CS pipes) and a 44.4 percent jump in the stainless steel tubes and pipes (SS pipes) segment.

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