₹10 penny stock jumps as US-based Minerva Ventures Fund buys stake in small-cap share | Stock Market News
Summary
Rama Steels share price today opened with an upside gap at 10.18 apiece on the NSE and touched an intraday high of 10.44 apiece, recording an intraday rise of nearly 3.50 per cent during morning deals.According to the information on the Indian stock market exchange, the US-based Minerva Ventures Fund and Ebisu Global Opportunities Fund have bought fresh stakes in the small-cap stock. The US-based Minerva Ventures Fund has bought 1.50 crore company shares, paying 10 apiece. Ltd." The proposed wholly-owned subsidiary to be incorporated in India shall carry out business in the Defence Sector.Earlier, the company had announced that it is strategically well-positioned to leverage strong domestic steel demand by increasing its Manufacturing Capacity ~ AT ANANTAPUR, ANDHRA PRADESH, through its Wholly Owned Subsidiary "Lepakshi Tubes Private Limited". The company is strategically well-positioned to leverage strong domestic steel demand from key steel-consuming sectors such as real estate, infrastructure and automobiles. The increased domestic market and softer material prices are expected to boost the industry positively.Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint.