The announcement was made during market hours today.

Rama Steel Tubes is engaged in the business of manufacturing of Steel Pipes and related products.

The company's consolidated net profit increased by 52.43% to Rs 11.28 crore on a 58.49% rise in sales to Rs 399.24 crore in Q4 FY23 over Q4 FY22.

In the past three months, the stock has zoomed 20.76% while the benchmark Sensex has added 9.80% during the same period.

On the technical front, the stock's daily RSI (relative strength index) stood at 39.098. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On daily chart, the stock is trading above its 100-day and 200-day simple moving average (SMA) placed at 33.87 and 32.62, respectively. It is, however, trading below its 50-day SMA positioned at 36.01.