Hi-Tech Pipes shares surged 7% following the announcement of their Q1 results, reflecting a strong performance. The multibagger stock, known for delivering over 85% returns to positional investors and rising around 600% in the past five years, continues to show upside potential despite recent gains.
The stock opened at ₹149 per share on the NSE and quickly rose to an intraday high of ₹159.07, nearing its lifetime high of ₹170. This rise highlights the continued interest from Dalal Street bulls, driven by the company’s impressive Q1 results.
In its Q1 results, Hi-Tech Pipes reported its highest-ever sales volume. The company achieved a 45% year-on-year increase in sales volume, reaching 1,22,155 MT, up from 84,489 MT in the same period last year. This growth is also 13% higher than the previous quarter’s volume of 1,07,721 MT.
This significant growth in sales volume is a result of Hi-Tech Pipes’ strategic initiatives. The company has expanded its product lines, improved marketing efforts, and optimised processes, contributing to its robust performance in the first quarter of the current financial year.
The impressive Q1 performance and strategic business initiatives position Hi-Tech Pipes for continued growth, maintaining its status as a multibagger stock with further potential for investors.
