Hariom Pipe hits record high on commercial production of melting furnace.

Hariom Pipe Industries surged 10.38% to Rs. 315.85 after the company said that it has completed the setting up of 15 ton electric melting furnace and its commercial production will commence from now.

This set up will increase the company's production of MS billets from the current 95,832 metric tonnes per annum (MTPA) to 1,04,232 MTPA. This is in line with the objects as set out in the company's prospectus at the time of its maiden IPO.

Hariom Pipe Industries is an integrated manufacturer of mild steel (MS) pipes, scaffolding, HR (hot rolled) strips, MS billets and sponge iron. The company uses iron ore to produce sponge iron which is then processed across various stages to manufacture final products viz. MS pipes and scaffolding.

BS