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Mukul Agrawal stock jumps 5% after it receives order worth ₹215 Cr from HPCL

Leading pipe manufacturer has received ₹214.68 crore in orders, including ₹106.01 crore from HPCL for coated pipes and ₹108.67 crore for epoxy-coated pipes, to be completed in 40 and 16 weeks.
Steel stock surges 5% after securing ₹215 Cr order from HPCL, boosting investor confidence.
Steel stock surges 5% after securing ₹215 Cr order from HPCL, boosting investor confidence.

Introduction:

Major pipe manufacturer has secured ₹214.68 crore in orders, including ₹106.01 crore from HPCL for coated line pipes and ₹108.67 crore for epoxy-coated pipes. These projects are expected to be completed in 40 and 16 weeks.

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Also Read: Petrochemical stock jumps 5% after it receives supply orders from BPCL and IOCL

Share price movement of Surya Roshni:

On November 27, 2024, Surya Roshni Ltd. opened at ₹544.80, up 0.89% from its previous close of ₹540.00. The stock hit a high of ₹568.00 and a low of ₹532.00. The stock closed at ₹566.00, reflecting a 4.81% increase. The market cap stands at ₹6,159.10 crore.

Surya Roshni secures HPCL orders:

Surya Roshni Limited (SRL) has secured orders totaling ₹214.68 crore (with GST), including a significant ₹106.01 crore order from Hindustan Petroleum Corporation Limited (HPCL) for the supply of API SL Gr. X, 3LPE Coated Line Pipes for Rajasthan and Jharkhand.

Additionally, Surya Roshni has been awarded a ₹108.67 crore order from a domestic entity for Food Grade Epoxy Coated, Spirally Welded HSAW MS pipes for Madhya Pradesh. These orders are scheduled for completion in 40 weeks and 16 weeks, respectively.

The company confirmed that these orders do not involve any related party transactions. There is no interest from the promoter or group companies in the awarding entities, ensuring compliance with arm’s length standards.

Recent news on Surya Roshni:

As of 25th November 2024, Surya Roshni partnered with ELCOMA for the “Lighting the Future, Light of the Future” conference. The event highlighted sustainable lighting solutions, bringing together key stakeholders to discuss industry challenges and opportunities for innovation.

Ace investor holding in Surya Roshni:

Mukul Mahavir Agrawal

Mukul Mahavir Agrawal holds a 1.01% stake in Surya Roshni Limited, owning 1,100,000 shares valued at ₹61.8 crore. This investment reflects a significant ownership in the company, underscoring his confidence in its growth potential.

Stock performance of Surya Roshni for Period of 1 week, 6 months and 1 year:

Surya Roshni Limited has experienced a slight decline of 0.68% over the past week and a 3.45% drop over the last six months. However, it has seen a positive growth of 10.8% over the past year, reflecting strong long-term performance.

Also Read: NTPC green energy signs MoU with Chhattisgarh State Power Generation for development of renewable energy projects

Shareholding pattern of Surya Roshni:

All values in %Sep 2024Jun 2024Mar 2024
Promoter63.00%63.00%63.00%
FII4.90%4.50%5.00%
DII1.30%1%0.60%
Public30.80%31.30%31.10%
Others0.10%0.30%0.40%
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About the company Surya Roshni:

Surya Roshni Limited(NSE: SURYAROSNI), established in 1973, is India’s largest exporter of ERW pipes, the top producer of GI pipes, and the second-largest in the lighting segment. The company focuses on value-added products like 3LPE Coated and Alkyd pipes.

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.

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