Steel stock jumps after signing LoA for solar photovoltaic power generating stationsSteel stock jumps after signing LoA for solar photovoltaic power generating stations

Introduction:

Leading steel manufacturer has ventured into the renewable energy sector by securing a 60 MW solar power project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, reinforcing its commitment to sustainability and expanding its presence in the clean energy domain.

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Share price movement of Hariom Pipe Industries:

On March 4, 2025, Hariom Pipe Industries Ltd opened at ₹340.00, slightly down from its previous close of ₹340.15. The stock reached a high of ₹357.85 (5%) and a low of ₹334.10. By 2:53 PM, it traded at ₹345.00, with a market cap of ₹1,068.37 crore.

Hariom Pipe Industries Enters Renewable Sector with 60 MW Solar Power Project:

Hariom Pipe Industries Ltd. (HPIL) has secured a Letter of Award for a 60 MW (AC) solar photovoltaic power project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. The initiative supports feeder-level solarization under Component C of the PM Kusum Scheme.

The Maharashtra State Electricity Distribution Company Ltd. (MESDCL) will purchase power from the project at ₹2.96/kWh for 25 years, with a ₹1.05 crore/MW subsidy. An additional ₹0.25/kWh incentive is applicable for the first three years upon timely commissioning of the project.

The project involves ownership, financing, development, and maintenance, with completion expected within 18 months. HPIL’s entry into renewable energy aligns with its commitment to sustainability, leveraging government incentives and expanding its business beyond steel manufacturing.

Recent news on Hariom Pipe Industries:

As of February 11, 2025, Hariom Pipe Industries Ltd reported a 7.1% rise in net sales to ₹299.88 crore. Quarterly net profit grew 14.44% to ₹11.23 crore, while EBITDA surged 15.96% to ₹40.11 crore, boosting EPS to ₹3.68.

Ace investor holding in Hariom Pipe Industries:

Vanaja Sundar Iyer

Vanaja Sundar Iyer holds a 2.74% stake in Hariom Pipe Industries Ltd, with 848,508 shares valued at ₹29.4 crore. Her significant investment highlights confidence in the company’s growth prospects and market potential within the steel and pipe manufacturing sector.

Sundar Iyer

Sundar Iyer holds a 5.26% stake in Hariom Pipe Industries Ltd, with 1,629,302 shares valued at ₹56.4 crore. This substantial investment underscores confidence in the company’s growth trajectory and its strong position in the steel and pipe manufacturing industry.

Stock performance of Hariom Pipe Industries for Period of 1 week, 6 months, and 1 year:

Hariom Pipe Industries Ltd has witnessed a challenging performance, with a 1-week decline of 8.39%, a sharp 58.9% drop over six months, and a 33.8% fall over the past year, reflecting market volatility and sectoral headwinds.

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Shareholding pattern of Hariom Pipe Industries:

Particulars	Dec 2024	Sep 2024	Jun 2024
Promoter	57.30%	57.20%	57.20%
FII	9.40%	9.60%	10.10%
DII	0.10%	0.40%	0.20%
Public	33.30%	32.90%	32.60%

About Hariom Pipe Industries:

Hariom Pipe Industries Ltd (NSE: HARIOMPIPE) is a vertically integrated steel manufacturer offering 800+ SKUs of iron and steel products. Established in 2008, the company manages an end-to-end backward integration process, from raw material production to final products.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.