[ad_1]
Stock market today: Despite weakness in secondary market for last two sessions, Rama Steel Tubes shares have hit 5 per cent upper circuit. In fact, the metal stock has been hitting upper circuit for last 8 straight sessions, logging around 75 per cent rise from its December 27, 2021 close of ₹234.35 apiece levels on NSE. The NSE-listed Rama Steel Tubes share price today opened with an upside gap of ₹7.40 per share and went on to hit intraday high of 412.10, leaving no seller for the stock in the secondary market.
Reason for rise in Rama Steel share price
The metal stock tossed as one of the multibagger stocks for 2022 in Indian stock market, has been in ‘uptrend’ after Brickwork Ratings (BWR) upgraded company’s rating to BWR BBB with a Stable outlook for long term and BWR A3+ for short term making bank loan facility for the company more easier.
Rama Steel Tubes share price history
Rama Steel Tubes Limited or RTSL stock price had closed at ₹234.35 on 27th December 2021 and it has been hitting upper circuit since 28th December 2021. In the last 8 trade sessions, the stock price has risen from ₹234.35 to ₹412.10 apiece levels, logging around 75 per cent rise in this period. In last 6 months, this possible multibagger stock for 2022 has surged from around ₹155 to ₹412.10, appreciating to the tune of near 165 per cent whereas in last one year, this multibagger stock has shot up from ₹61.20 to ₹412.10 levels, rising around 575 per cent in this period.
Impact on investment
Taking cue from RTSL share price history, if an investor had invested ₹1 lakh in this metal stock on 27th December 2021 buying one share at ₹234.35 levels, its ₹1 lakh would have turned to ₹1.75 lakh today. If an investor had invested ₹1 lakh in this multibagger stock 6 months ago, its ₹1 lakh would have turned to ₹2.65 lakh today while it would have turned to ₹6.75 lakh in one year.
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
[ad_2]