Hi Tech Pipes is in limelight ahead of its board meeting later this week to consider stock split proposal. Hi-Tech Pipes’ board is scheduled to meet on January 28, 2023 to consider the proposal of the sub-division/split of equity shares.
Motilal Oswal mutual fund has recently shown its interest in the counter as it picked up 3 lakh equity shares of Hi-Tech Pipes on Friday. According to exchange data, Motilal Oswal Equity Opportunities Fund Series II has bought 2 lakh shares in the company at Rs 937 apiece, Motilal Oswal Business Advantage Fund Series II also bought nearly 1 lakh shares for Rs 936.99 per share.
The company board will also consider and approve its quarterly results on the same day, the filing added.
The company board will also consider the proposal of sub-division or split of the equity shares of the company, having a face value of Rs 10 each, in such a manner as the Board may determine, the regulatory filing said.
Recently, Hi-Tech Pipes signed MoU with the government of Uttar Pradesh to set up a mega manufacturing facility of steel tubes and flat steel processing with a proposed investment of Rs 510 crore in a phased manner.
Hi- Tech Pipes Ltd has a state of art, ultra modern latest technology based R & D facilities with latest equipment which helps the company to manufacture world class products. Company has strengthened the quality of the products through prudent investments to improve procedural discipline, acquire best-in-class certifications and implement mission-critical technologies. Its Prestigious clients include Ashok Leyland,
Airtel,Adani,L& T Ltd, BHEL, etc.