Iron, steel stock Rhetan TMT retraces after inching close to 52-week high. Do you own?

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Shares of Rhetan TMT Ltd retraced on Monday after nearing their 52-week high, even as the company announced a key business milestone by receiving a licence from the Bureau of Indian Standards (BIS) to manufacture Fe500D, Fe550 and Fe550D grade Thermo Mechanically Treated (TMT) bars.
The BIS certification enables the company to produce high-strength, high-ductility TMT bars that are widely used in large-scale infrastructure and construction projects. According to the company, the approval significantly expands its addressable market by allowing it to cater to government and public sector projects, including highways, bridges, dams, metro rail networks and other infrastructure developments, where these grades are the preferred specification.
Rhetan TMT said the certification also strengthens its product portfolio, enabling it to offer the full range of premium TMT steel products—from residential construction to heavy infrastructure applications. Higher-grade TMT bars typically command better pricing and are expected to improve the company's value-added product mix.
The company highlighted that obtaining BIS certification for these grades involves stringent testing of chemical composition, mechanical strength and ductility standards. It believes the approval differentiates Rhetan TMT from a large section of the unorganised steel market and reinforces its position as a quality-certified manufacturer.
The announcement comes at a time when India's steel demand continues to grow, supported by strong infrastructure spending. The company noted that India remains the world's second-largest steel producer, with domestic steel demand expanding at around 8-9% annually. It also pointed to the government's record capital expenditure on roads, railways, housing and urban infrastructure, along with the National Steel Policy's target of 300 million tonnes of steel production capacity by 2030-31, as long-term demand drivers.
Operating from Kadi, Gujarat, Rhetan TMT believes its strategic location in one of India's key industrial hubs, combined with improving operational performance and the new certification, positions it well to capitalise on rising infrastructure-led demand and support its next phase of growth.
Rhetan TMT share price today opened at ₹29 apiece on the BSE, the stock touched an intraday high of ₹30.22 per share, and an intraday low of ₹28.56 apiece.
Despite Monday's pullback, Rhetan TMT share price has delivered strong gains across longer timeframes. The stock has risen 1.9% in the past week, 8.98% over two weeks, and 8.7% in the last month, reflecting sustained buying interest. Over the past six months, the stock has gained 10.73%, while its year-to-date return stands at 17.65%. On an annual basis, Rhetan TMT has rallied 70.43%, significantly outperforming its shorter-term performance, although it has remained largely flat over the last three months with a marginal decline of 0.1%.
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Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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