Newly listed metal stock Rajputana Stainless to be in focus on Tuesday after order win from Suzlon Energy
Rajputana Stainless shares are under scrutiny after securing an order from Suzlon Energy for a 2.10 MW wind project in Gujarat, valued at ₹16.21 crore. This marks a significant development for the company since its IPO debut in March, with shares now trading 52% higher than their original price.
Shares of Rajputana Stainless, the manufacturer of long and flat stainless-steel products, are likely to remain in focus in Tuesday's trade, September 8, after the company secured a fresh order from Suzlon Energy.
In a post-market filing on Monday, the company said it received an order from Suzlon Energy for a 2.10 MW wind power project in Gujarat. Under the contract, Rajputana Stainless will set up one Suzlon S120_140 wind turbine generator with a capacity of 2,100 kW at the Jamjodhpur site in Gujarat.
The order, awarded by a domestic entity, is valued at ₹16.21 crore plus GST per wind turbine generator and is to be executed within 11 months, according to the filing.
Rajputana Stainless said the order does not involve any interest from its promoter or promoter group in the awarding entity and does not fall under related-party transactions.
The company recently listed its shares on the stock exchanges, making the order win an early business development for the newly listed company.
Rajputana Stainless share price trend
The company's shares made their stock market debut in March, listing at the same price as the issue price of ₹122 apiece. However, the stock soon attracted strong demand from investors.
The following month, the stock gained 35%, and the momentum has persisted, with shares crossing the ₹180 mark. Considering Monday's closing price of ₹186, the stock is trading 52% higher than its IPO price. From its low of ₹101, the stock has rebounded nearly 84%.
It has finished each of the last three months in the green, with August emerging as the strongest month, when the stock jumped 25%.
For Q1FY27, the company reported 32.4% year-on-year (YoY) growth in its revenue from operations to ₹306.54 crore. In the same quarter last year, its revenue was ₹231.50 crore. Profit after tax (PAT) rose 80.5% to ₹20.20 crore from ₹11.19 crore in Q1FY26.
About Rajputana Stainless
The company manufactures long and flat stainless-steel products, including billets, forging ingots, rolled black bars, rolled bright bars, flats and patti, and other ancillary products under the brand name RSL.
It offers products across more than 80 grades of stainless steel, reflecting its ability to meet diverse technical and application-specific requirements.
In addition to catering to the domestic market, the company currently exports its products to nine countries, including Turkey, the UAE, Poland, Portugal, the US, South Africa, South Korea, the Czech Republic, and Kuwait.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
About the Author
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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