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Rama Steel Tubes Ltd. ( (IN:RAMASTEEL) ) has issued an announcement.
Rama Steel Tubes Ltd. has announced the joint acquisition of a 100% stake in Automech Group Holding Limited, registered under the Abu Dhabi Global Market, in collaboration with its wholly-owned subsidiary, RST International Trading FZE. The acquisition, valued at AED 296 million (approximately Rs. 728 Crores), will see RST International Trading FZE acquiring a 78.38% stake, while Rama Steel Tubes Ltd. will acquire a 21.62% stake. This strategic move is expected to enhance the company’s market positioning and expand its operational footprint in the global market.
More about Rama Steel Tubes Ltd.
Rama Steel Tubes Ltd. is a manufacturer and exporter specializing in ERW steel tubes, both black and galvanized. The company is based in New Delhi, India, and is recognized for its commitment to quality, being ISO 9001:2015 certified.
Average Trading Volume: 888,704
Technical Sentiment Signal: Hold
Current Market Cap: 16.44B INR
Learn more about RAMASTEEL stock on TipRanks’ Stock Analysis page.