Experts Think It Can Hit ₹320 Soon

Hi-Tech Pipes Ltd (NSE: HITECH): Monday was a volatile day for the stock market, and there were sporadic fluctuations within the markets.

The effect of Hindenburg’s report was not felt in the market, however, there was some selling of Adani stocks.

Adani Green fell 7 percent. Despite the volatility of the market, the trend of stock-specific movements continues.

On the Stock Market, people are searching for stocks that will provide consistent returns.

While stocks’ returns can’t be synchronized, it is equally true that if investing in firms with solid foundations at the right time and with consistent returns, they can be achieved.

A stock has popped up to the forefront and has offered 100 percent annual returns over the past 5 years. The stock comes from a part of the steel industry, called Hi-Tech Pipes.

In the last period, Hi-Tech Pipes has given an average return of 108 percent to investors. In the last 5 years, it has provided a return of around 800 percent to its investors.

The stock began to earn returns in August of this year too. The shares of Hi-Tech Pipes closed at Rs 160.49 on Monday after increasing 6.28 percent.

Hi-Tech Pipes Limited is a major player in India’s industry, distributing and producing steel products via a massive network of more than 5,000 retail outlets.

With a wide range of customers, its influence is felt throughout key sectors like infrastructure, construction, automobile energy, defense, and construction.

With a solid base of branding and manufacturing quality, Hi-Tech Pipes has experienced considerable growth despite operating through six manufacturing facilities, each with a production capacity of 7,50,000 MTPA.

The company has an estimated market capitalization of more than Rs 2,400 crore.

On July 20, 2024, FIIs acquired 1,24,80,000 shares in the business, and the stake they held was increased by 8.72 percent, compared to 1.82 percent in June.

The stock has earned an impressive performance of 122 percent since its 52-week low of Rs 74 per share.

It also delivered an astonishing 815 percent increase over five years. Experts think that the stock of Rs 159 may double and can hit Rs 320.

Hi-Tech Pipes Ltd Stock Performance

Key Fundamentals Parameters

Hi-Tech Pipes Ltd Share: Last 5 Years’ Financial Condition

Last 5 Years’ Sales:

Last 5 Years’ Net Profit:

Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations.