Shares of Hi Tech Pipes were up 2% on Tuesday after the company won a ₹105 crore order.

What Happened: Hi Tech Pipes said in a regulatory filing that it won an order to supply Electrical Resistance Welding (ERW) steel pipes worth ₹105 crore, inclusive of GST.

The company said it won the orders from key customers in the renewable energy sector and they will be executed from its manufacturing facility located in Sanand over the next three months. 

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Ajay Kumar Bansal, Chairman, Hi-Tech Pipes said, "The steel pipes will be utilized in various applications within the renewable energy sector, including wind farms, solar installations, and other green energy projects. Hi-Tech Pipes is dedicated to providing products that not only meet but exceed industry standards, ensuring durability and performance in the most demanding environments."

Hi Tech Pipes is engaged in the production of steel pipes, hollow sections, tubes, cold rolled coils and strips, road crash barriers, solar mounting structures and a variety of other galvanised products. 

Price Action: Shares of Hi Tech Pipes rose 3.30% to ₹188.70 in morning trade on Tuesday.

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