Stock In 2% Upper Circuit As 1:10 Split Nears Record Date; Overbought Signals Caution – Time To Book Profits?

One of the top producers of steel pipes and tubes, black steel tubes, galvanized steel tubes, HR sheets, and other products is Rajasthan Tube Manufacturing Company Limited. The small-cap firm was founded in 1985 and has a market capitalization of Rs 108 Cr. Following the Board's announcement of the record date for a 1:10 stock split, the shares of Rajasthan Tube Manufacturing Company were trading on the BSE on Friday at a 2% upper circuit limit of Rs 239.50 per share.

Rajasthan Tube Manufacturing Company Stock Split Date

"In furtherance to our earlier intimations dated March 05, 2025 and March 06, 2025 on the captioned subject and pursuant to approval accorded by the Shareholders of Rajasthan Tube Manufacturing Company Ltd ("the Company") through Extraordinary General Meeting held on March 29, 2025 for the Sub-division/Split of face value of Equity Shares of the Company and Regulation 42 of the Listing Regulations, the Company has fixed Monday, April 21, 2025 as the "Record Date" for determining entitlement of Equity Shareholders for the purpose of Sub-division/Split of face value of Equity Shares of the Company," said Rajasthan Tube Manufacturing Company in a stock exchange filing.

The record date has been fixed for determining the entitlement of equity shareholders for the purpose of split/sub-division of existing equity shares of the company, such that 1 equity share having face value of Rs. 10/- each, fully paid-up, will be subdivided into 10 equity shares having face value of Re. 1/- each, fully paid-up according to Rajasthan Tube Manufacturing Company.

Rajasthan Tube Manufacturing Company Financials

The firm reported net sales of Rs 17.61 crore in the December 2024 quarter, a 33.41% drop from Rs 26.44 crore in the December 2023 quarter, according to Moneycontrol. The company's net loss dropped by 210.27% from Rs. 0.26 crore in the quarter that ended in December 2023 to Rs. 0.28 crore in the quarter that ended in December 2024. EBITDA decreased by 89.06% from Rs. 0.64 crore in Q3FY24 to Rs. 0.07 crore in Q3FY25.

Rajasthan Tube Manufacturing Company Share Price Target

"Rajasthan Tube stock price is bullish but also very overbought on the Daily charts with next resistance at 252. Investors should be booking profits as a Daily close below support of 225 could lead to a target of 198 in the near term," commented A R Ramachandran, Independent Research Analyst.

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