Venus Pipes Jumps 11% on ₹372 Crore Fund Raise

Venus Pipes shares surged nearly 11.5% to a 52-week high after the board approved a ₹372 crore preferential issue, with proceeds aimed at debt repayment. Venus Pipes & Tubes

shares rallied to a 52-week high after the company approved a ₹372 crore preferential issue, with most of the proceeds planned for debt repayment. Venus Pipes & Tubes share price surged on September 17, 2026, after the company's board approved a preferential issue to raise around ₹372 crore. The company plans to issue 22,27,544 equity shares at ₹1,670 per share, with the proceeds primarily earmarked for debt repayment. The announcement triggered strong buying interest, with Venus Pipes jumping as much as 11.45% to ₹2,160, its 52-week high. The stock closed at ₹2,131.70, up 9.99%. Trading activity was also notable, with the stock witnessing its highest trading level since October 10, 2024, while volumes reached their highest level since February 2024. From a technical perspective, the stock remains in a clear uptrend, with the bullish structure intact. ₹2,450, the previous all-time high recorded in August 2024, remains a key resistance level. On the downside, ₹1,875, an earlier resistance zone, has turned into an important support level. Venus Pipes continues to trade in a strong uptrend after witnessing a sharp breakout supported by robust volumes. The stock is hovering near its 52-week high, indicating sustained buying interest. A move above recent highs may strengthen bullish momentum, while ₹1,875 remains a crucial support zone to watch. Disclosure: Neither I nor my family members hold any position in the mentioned scrip. This content is shared solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell.