Rathi Steel & Power gets approval from Bureau of Indian Standards
Rathi Steel and Power Limited, a prominent steel and power company, has received the coveted approval from the Bureau of Indian Standards (BIS). The approval grants the company the license to use the BIS Standard Mark on their Fe 500 Reinforcement Bars (8mm to 25mm), signifying their adherence to national quality standards for their TMT bars.
This significant milestone is a testament to the company’s commitment to quality and customer satisfaction. The BIS license will enable Rathi Steel and Power to utilize their optimal capacity and introduce a new product line, positioning them to meet the growing demand in the market.
For the uninitiated, the Bureau of Indian Standards is the national standards body of India, responsible for setting and maintaining standards for various products and services in the country. The BIS Standard Mark is a symbol of quality and compliance with national standards, and it is considered a prestigious certification in the Indian industry.
Rathi Steel and Power’s Fe 500 Reinforcement Bars are a crucial component in the construction industry, used for reinforcing concrete in various building structures. The company’s TMT (Thermomechanical Treatment) bars are known for their high strength, durability, and resistance to corrosion, making them a popular choice among builders and contractors.
The BIS license is valid until May 8, 2026, and it is a significant achievement for Rathi Steel and Power, given the rigorous testing and evaluation process that companies undergo to obtain this certification. The company’s adherence to national quality standards is a testament to their commitment to delivering high-quality products to their customers.
The BIS approval will also enable Rathi Steel and Power to expand their product offerings and cater to a wider range of customers. The company’s TMT bars are already widely used in various construction projects across the country, and the BIS license will further strengthen their position in the market.
In addition to the BIS approval, Rathi Steel and Power has also made headlines recently with their promoter buying 1.37 crore shares of the company at a price below Rs 50, as reported by DSIJ (Digital Systems for Information and Journalism). This move has sparked interest among investors and analysts, who are keen to understand the reasoning behind this significant share buyback.
The fact that the promoters are buying shares at a price below the current market price indicates that they believe in the company’s growth potential and are confident about its future prospects. This move is likely to have a positive impact on the company’s stock price and sentiment, as it signals a vote of confidence from the promoters.
In conclusion, Rathi Steel and Power’s approval from the Bureau of Indian Standards is a significant achievement that highlights the company’s commitment to quality and customer satisfaction. The BIS license will enable the company to expand its product offerings, cater to a wider range of customers, and position itself to meet the growing demand in the market. As the company continues to grow and expand, investors and analysts will be keeping a close eye on its progress, eager to see how it will capitalize on this new opportunity.
