Stock market today: Hi-Tech Pipes shares are one of the multibagger stocks the Indian stock market has produced in one year. In one year, Hi-Tech Pipes share price has risen from naerly ₹77 to ₹164 per share mark, logging over 105 percent rise. The multibagger stock witnessed strong buying after the announcement of Q1 results today. The small-cap company declared its Q1 results 2024 on Monday, reporting robust annual growth in total income and net profit.
Hi-Tech Pipes share price today opened upside at ₹155 and touched an intraday high of ₹164 apiece on the NSE after the announcement of Q1FY25 results. While climbing this intraday high, Hi-Tech Pipes share price registered an intraday high of over 7.50 percent intraday gain and came close to its lifetime high of ₹170 apiece.
The small-cap company declared Q1 results today during market hours. In Q1FY25, Hi-Tech Pipes reported a total income of ₹867.75 crore, up from ₹642.44 crore in the corresponding period of the previous financial year. Thus, the company registered a YoY rise of over 35 percent in total income from April to June 2024. On a QoQ basis, the company's total income grew from ₹680.75 crore to ₹867.50 crore, logging a QoQ rise of around 27.50 percent.
The company's net profit grew YoY from ₹8.02 crore to ₹18.05 crore, logging over 125 percent annualized growth during the first quarter of the current financial year. The company reported a net profit of ₹11.12 crore in the previous quarter. So, the company's net profit has grown over 62 percent sequentially.
This multibagger stock is available for trade on BSE and NSE. The mainboard multibagger stock has a market cap of ₹2,850 crore. The current trade volume of the small-cap stock is around 69 lakh, and there is still nearly one hour of trade left on Monday. The 52-week high of this multibagger stock is ₹170 apiece, whereas its 52-week low is ₹73.85 per share on the NSE.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
