Ratnamani Metals jumps 14.85% as subsidiary secures Rs 2,700 crore export order for spools and hangers

Ratnamani Metals & Tubes Ltd. is up 14.85% to Rs 2704.1, building on recent gains and showing a 14.89% increase over the last week. Ratnamani Metals & Tubes Limited announced that its subsidiary, Ratnamani Finow Spooling Solutions Private Limited, has secured export orders totaling USD 286 million (approximately Rs 2,700 Crores) for the supply of spools and hangers, to be executed over a period of two to three years, with a portion of the manufacturing to be subcontracted. The company noted that the orders, received in the normal course of business, do not involve any related party transactions and are being disclosed in accordance with SEBI regulations. Trading volume reached 5.35 lakh shares today, a surge of 2638.96% compared to the average volume of the last one week. Ratnamani Metals & Tubes Ltd marginally improved 11.73% year-over-year, outperforming the 3.32% loss registered by the NIFTY50 index.