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Rama Steel Tubes Limited (RSTL) announced today a strategic collaboration with Onix Renewable Ltd to provide steel structures for solar projects. The partnership aims to leverage RSTL’s expertise in manufacturing specialized steel structures and tracker tubes for Onix’s solar installations.
The shares of Rama Steel Tubes Limited (RSTL) were trading at ₹11.83 up by ₹1.29 or 12.24 per cent on the NSE today at 11 am.
RSTL will supply single-axis trackers initially, with plans to expand into dual-axis trackers in the future. This marks RSTL’s entry into the green energy segment, diversifying its product portfolio beyond traditional steel tube manufacturing.
Onix Renewable currently has 600 MW of projects in progress and an additional 2200 MW in the pipeline. The collaboration is expected to positively impact RSTL’s EBITA and establish its position in the renewable energy sector.
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