HITECH

Feb 12 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• DEC-QUARTER CONSOL PAT 191.5 MILLION RUPEES

• DEC-QUARTER CONSOL NET REVENUE FROM OPERATIONS 7.61 BILLION RUPEES

Source text: ID:nNSE4L5hHN

Further company coverage: HITC.NS

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** Indian pipe stocks gain between 1% and 7%

** India extends scheme to enhancing water supply for 4 years till 2028, Finance Minister Nirmala Sitharaman says in union budget

** KEC International's KECL.NS 7% jump the highest, followed by GPT Infra's GPTI.NS 6% climb

** Prince Pipes PRCE.NS up 3.4%, Hi-Tech Pipe HITC.NS rises 1%

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Hi-Tech Pipes HITC.NS rise 2.1% to 161.47 rupees

** Steel pipes maker's sales volume for Q3 rose 26.1% Y/Y to 124,233 million tons

** HITC rose 38.8% in 2024

(Reporting by Vijay Malkar)

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Nov 6 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• APPROVES 100% ACQUISITION OF HI-TECH GLOBAL STEELS

Source text: ID:nNSE9j2lLD

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Oct 11 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• ANNOUNCES CLOSURE OF 5 BILLION RUPEES QIP

Source text for Eikon: ID:nBSE8T3gCG

Further company coverage: HITC.NS

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Oct 3 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• HI-TECH PIPES - SALES VOLUMES OF 123,027 MT FOR Q2 FY25, UP 22.50% YOY

• HI-TECH PIPES - LOOKING AHEAD, OPTIMISTIC ABOUT GROWTH, WITH FESTIVE SEASON ON HORIZON

• HI-TECH PIPES - ANTICIPATE UPTICK IN DEMAND DURING FESTIVE SEASON

Source text for Eikon: ID:nBSE2zvrkq

Further company coverage: HITC.NS

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** Shares of Hi-Tech Pipes HITC.NS rise as much as 5.5% to hit 192.79 rupees, a record high

** Co says it got an order worth 1.05 bln rupees ($12.5 mln) from "key customers in the renewable energy sector"

** HITC, last up ~2%, ralling for the ninth straight session

** Stock has jumped ~62% YTD

($1 = 83.8600 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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Aug 19 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• TO RAISE FUNDS WORTH UPTO 6 BILLION RUPEES

Source text for Eikon: ID:nBSE79GHt2

Further company coverage: HITC.NS

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** Shares of Hi-Tech Pipes HITC.NS are up 4.3% in above avg vols

** Maker of pipes and coils posted a 62% y/y rise in Q1 consol profit, rev rose 27%

** HITC, which was up around 2.5% earlier in the session, rose as much as 6.4% after the announcement

** Stock on track to post fourth straight session of gains, rising around 15% in the period

** More than 5.7 mln shares traded, 3x their 30-day avg

** YTD, HITC up 40%

(Reporting by Nishit Navin)

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July 18 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• Q1 SALES VOLUME UP 45% Y/Y

Source text for Eikon: ID:nBSE8FXTr6

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** Shares of Hi-Tech Pipes HITC.NS down as much as 6.6% to 116.30 rupees; last down 3%

** The steel processing company on Friday reported a near 30% Y/Y fall in its March-qtr consolidated profit to 111.3 mln rupees ($1.3 mln)

** Net revenue from operations fell 3% Y/Y

** Expects a boost in infrastructure spending by the government of India post-election, further driving demand for steel pipes - HITC

** Including session's move, stock is up 5% YTD, while rivals Welspun Corp WGSR.NS and Steel Authority of India SAIL.NS are up 6.2% and 24%, respectively

($1 = 83.5260 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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** Antique Stock Broking initiates coverage of Hi-Tech Pipes HITC.NS with "buy" rating and PT of 200 rupees

** HITC up 3% at 132.90 rupees

** Antique is the only brokerage covering the steel pipe-maker currently, per LSEG data

** Brokerage says short-term stability in HRC steel prices to aid co's margin and volume expansion, and higher share of value-added products to support margins in long term

** Says general infrastructure spending and Make in India initiative along with import substitution requirements to continue boosting domestic sales of steel pipes

** Co's Q3 profit rose 10% YoY, rev up 10.7% and EBITDA margin rose to 5% from 4.9% last year

** Rival steel pipe-makers Welspun Corp WGSR.NS and Jindal Saw JIND.NS rated "strong buy" and "buy" on avg, respectively - LSEG data

** HITC stock on track for first monthly decline since August 2023

(Reporting by Varun Vyas in Bengaluru)

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Jan 22 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• ESTABLISHMENT OF GREENFIELD UNIT-II AT SIKANDRABAD, SANAND UNIT-II PHASE-2

• COMMISSIONING OF SANAND UNIT-II PHASE-1

Source text for Eikon: ID:nBSE6XtmyP

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** Shares of Hi-Tech Pipes HITC.NS up 2% at 121.2 rupees

** Stock on track to rise for fourth straight session, if trend holds
** Co says Q3 sales volume rose 8% YoY

** Stock touched fresh record high of 124.25 rupees before paring some of the gains

** More than 4.2 mln shares change hands, 2.7X the 30-day moving average

** Stock climbed for the fourth straight year in 2023, rising 40%

** Shares of rivals Welspun Corp WGSR.NS and Steel Authority of India SAIL.NS outpaced HITC's growth last year, while Tata Steel TISC.NS rose 25%

(Reporting by Varun Vyas)

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Jan 2 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• SALES VOLUMES OF 98,512 MT IN Q3FY24, UP 8% Y/Y

Source text for Eikon: ID:nBSE8D0XN2

Further company coverage: HITC.NS

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Aug 11 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• CFO ANISH BANSAL RESIGNS

• NAMES ARVIND KUMAR BANSAL AS CFO

Source text for Eikon: ID:nNSEbYKhLV

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April 3 (Reuters) - Hi-Tech Pipes Ltd HITC.NS:

• RECORDED SALES VOLUMES OF 107,237 MT IN Q4 FY23

Source text for Eikon: ID:nNSEbrhRj9

Further company coverage: HITC.NS

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