BackMotilal Oswal Fund buys 2.5% stake in this multibagger smallcap firm: Check here
Motilal Oswal equity Opportunities Fund Series II bought 2,00,000 shares at ₹937
PremiumMotilal Oswal Funds on 20 January bought 2.5 per cent stake in Hi-Tech Pipes, a smallcap company via open market transactions.
Motilal Oswal equity Opportunities Fund Series II bought 2,00,000 shares at ₹937, and Motilal Oswal Business Advantage Fund Serie II bought 1,00,000 lakh shares at ₹936.99 via open market operations in Hi-Tech Pipes.
The smallcap company commanded a market capitalisation of ₹1,175.69 crore. The shares of Hi-Tech Pipes settled at ₹958.10 on Friday up by 1.46 per cent.
Hi-Tech Pipes shares from its 52-week low of ₹323 in June 2022 (23/06/2022), the stock has risen about 196.62 per cent. In the last one year, the stock has jumped more than 40 per cent and is up 72 per cent in last six months.
However, in the last 3 years the firm's stock has rallied over 400 per cent, so in a short period of span it has given return more than 100 per cent.
The company's in a regulatory filing said that it will consider sub-division of equity shares, as well as consider and approve the un-audited financial results of the company for the December quarter when the board meets on January 28.
"The company board will consider the proposal of sub-division or split of the equity shares of the company, having a face value of ₹10 each, in such a manner as the Board may determine," the company said in a regulatory filing on January 10.
"The Un-Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter ended December 31, 2022," the filing added.
Hi-Tech Pipes is a a steel processing company. It provides products in steel pipes, hollow sections, tubes, cold rolled coils and strips, road crash barriers, solar mounting structures, color coated coils and other galvanized products.
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