<h1>Ratnamani Metals & Tubes' Subsidiary Secures Export Orders Worth USD 286 Million</h1>
Ratnamani Metals & Tubes Ltd has announced that its subsidiary company, Ratnamani Finow Spooling Solutions Private Limited, has secured significant export orders for the supply of Spools and Hangers. The orders, which are international in nature, aggregate to USD 286 Million, equivalent to approximately INR 2,700 Crores.
The orders represent a normal course of business for the subsidiary. These contracts span a period of two to three years.
The supply process involves a combination of internal manufacturing and subcontracting, with the orders being sold on a Mercantile Trade Transaction basis.
Key details regarding the secured contracts are as follows:
| Particulars | Details |
|---|---|
| Nature of Order | Supply of Spools / Hangers |
| Market | International |
| Order Value | USD 286 Million (approx. INR 2,700 Crores) |
| Time Period | Two to three years |
| Transaction Type | Not a related party transaction |
RATNAMANI Stock Price Movement
Ratnamani Metals & Tubes Limited shares gained strongly in the market today, closing at ₹2542.2 after surging by 7.98%. The equity traded within an intraday range of ₹2323 to ₹2595, with a total volume of 79,809 shares exchanged.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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