Rama Steel Tubes snaps 5-day winning streak, down 10% on profit booking

Rama Steel Tubes stock: Over the past five sessions, shares of the steel player had surged almost 60 percent.

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26 Aug, 2025 12:21

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Rama Steel Tubes ended its five-session long winning streak to fall 10 percent in early trade on September 9, as investors rushed to take some profits off the table. Over the past five sessions, shares of the steel player had surged almost 60 percent.

At 10.10 am, shares of Rama Steel Tubes were quoting Rs 14.86 on the NSE, lower by 6.5 percent compared to the previous session's close.

So far, over 21 crore shares exchanged hands in trade on the bourses, over 100 percent higher than the one-month daily traded average of 10 crore shares.

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The trigger for Rama Steel Tubes' sudden upmove was its strategic collaboration with Onix Renewable.

"This partnership will focus on leveraging the expertise of Rama Steel Tubes to provide steel structures along with single-axis trackers, and will also focus on dual-axis trackers to be expanded in the future essential for solar projects undertaken by Onix Renewable," said the firm in a filing with the exchanges.

Rama Steel Tubes has expanded its expertise and developed specialised steel structures and tracker tubes which will serve as the backbone for Greenfield Solar Projects. This marks the firm's entry into the Green Energy segment.

The steel player also added that it is determined to deliver products that ensure the highest standards of reliability, durability, and performance, which are critical to the long-term success of solar greenfield projects.

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