Sixteenth Street Asian Gems Fund picks up stake in Rama Steel Tubes Ltd
Mumbai (India), April 6: Rama Steel Tubes Limited (RSTL) is a pioneer and leading manufacturer in the steel tube industry. As per bulk deal data available on NSE, Sixteenth Street Asian Gems Fund has picked up 220,000 shares for an average price of Rs. 350 on 05 April, 2022.
Earlier in January, the company had inked exclusive arrangement for supply of specialty steel SKUs in Nigeria, West Africa, through RST Industries Ltd. (a stepdown subsidiary of RSTL). RST Industries Ltd, Nigeria signed annual contract with Huihai Group Ltd, Hong Kong where RST industries Ltd will have an exclusive arrangement for supply of specialty steel SKUs of – 15,000 MT per annum in Nigeria.
RSTL has been continuously striving to improve its performance by increasing sales, share of value-added products, innovating new products and aggressive cost optimization on a continual basis. RSTL products range includes MS ERW black pipes from 15mm to 200mm diameter pipes confirming to lS: 1239, lS:1161, lS:3589, lS:3601, &lS:4270 and G. l. Pipes from15mm to l-50mm NB in light, medium and heavy sizes. RSTL has 2O% exports rate, with a global presence in more than 15 Countries.
RSTL has a subsidiary in UAE and a step-down subsidiary in Nigeria which has strengthened the company/s presence in global markets. RSTL has the world’s latest technology, plant and machinery, which also includes sophisticated testing equipment. RSTL has 4 state-of-art manufacturing capabilities located at Sahibabad (U.P.), Khopoli (Maharashtra) and Anantpur (Andhra Pradesh) and has got strong distributor network spread across lndia.
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