New Delhi: Hi-Tech Pipes stocks are among the top-performing stocks that the Indian stock market has generated in recent years. The stock that has given high returns to investors has seen an increase of 85 percent for positional investors, while Hi-Tech Pipes' share price has surged by about 600 percent in the past five years. This increase factors in price correction following the March 2023 1:10 stock split. Even though the stock has experienced a strong increase in price, it still has room to grow.
Today, the stock price of Hi-Tech Pipes started at Rs 149 per share on the NSE with a gap up and reached a high of Rs 159.07 per share, showing an increase of approximately 7 percent during the day. As it reached its highest point of the day, the high-performing stock almost reached its all-time high price of Rs 170 per share.
Announcing its Q1 results today, Hi-Tech Pipes Limited reported its highest-ever sales volume during the first quarter of the current fiscal year. During the first quarter, Hi-Tech Pipes saw a notable 45 percent growth in total sales volume, reaching 1,22,155 MT, compared to the previous year's 84,489 MT. This also marked a 13 percent increase from the 1,07,721 MT sales volume in the fourth quarter of FY24. This success can be credited to the company's strategic actions, such as diversifying product offerings, improving marketing campaigns, and optimizing processes.
Ajay Kumar Bansal, Chairman and Managing Director at Hi-Tech Pipes, expressed excitement about the Q1 results of 2024, acknowledging the team's commitment and effort that led to this significant achievement. Our emphasis on quality, customer satisfaction, and ongoing enhancement has helped us reach this unprecedented level of sales. We believe this momentum will persist, fueling our expansion and achievements in the field. Additionally, we are very satisfied with our newly established manufacturing plant, Sanand Unit II Phase 1, Gujarat, that is positively impacting our sales numbers.
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