Rajasthan Tube Manufacturing Co Hits Record High Amid Strong Market Performance

Rajasthan Tube Manufacturing Co, a microcap player in the steel, sponge iron, and pig iron industry, has recently achieved a significant milestone by reaching an all-time high of Rs. 71.85 on December 24, 2024. This surge marks a remarkable performance, with the stock outperforming its sector by 4.29% on the same day. The company has demonstrated impressive momentum, gaining consecutively for 13 days and delivering a substantial return of 63.85% during this period. The stock opened with a notable gain of 4.49% and maintained its trading price throughout the day, reflecting strong market interest. In terms of technical indicators, Rajasthan Tube Manufacturing Co is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a robust upward trend. Over the past year, the company's stock has appreciated by 78.87%, significantly outpacing the Sensex, which recorded a gain of 10.47%. This performance highlights the company's strong position within the competitive landscape of the steel industry.