Rama Steel share price rose 57% in three sessions

On the BSE, the multibagger stock increased 18.70% to Rs 16.50. The company's market value increased to Rs 2,459 crore.

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Over the previous three sessions, Rama Steel Tubes' shares have increased by 57%. The multibagger stock gained 57% since Tuesday, closing at Rs 10.52 on September 3 and reaching a high of Rs 16.50 in the current trading session.

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In three years, the metal stock has increased 423%, and in five years, it has increased 2033.77%.

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Rama Steel's share price increased 18.70% to Rs 16.50 on the BSE during today's session. Large amounts of the company's 3.91 crore shares changed hands today, totaling a BSE turnover of Rs 61.96 crore. The company's market value increased to Rs 2,459 crore on the BSE.

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Rama Steel Tubes' RSI is 76, indicating that it is trading in the overbought area. The 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day, and 200 day moving averages are all being exceeded by the price of Rama Steel Tubes shares.

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Reason for rise: On September 3, the manufacturer of iron and steel products said that on August 31, 2024, it established a wholly owned subsidiary of Rama Steel Tubes Limited under the name "Rama Defence Private Limited." The company then received the certificate of incorporation from the Ministry of Corporate Affairs on September 2, 2024.

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Hot Rolled Coil, Hollow Section, G.I. Pipe, CR Pipe, Poles, M.S. Poles, Steel Bla & Tubes Hollow Sections are among the products made by the company.

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