Venus Pipes Hits 52-Week High on ₹372 Crore Fundraise

Venus Pipes shares hit a 52-week high after approving a ₹372 crore preferential issue, with proceeds largely planned for debt repayment Venus Pipes & Tubes (

) shares attracted strong buying interest on September 17, 2026, after the company’s board approved a preferential issue worth around ₹372 crore. Under the proposal, Venus Pipes will issue 22,27,544 equity shares at ₹1,670 apiece. A significant portion of the funds is expected to be used to reduce the company’s debt, a development that caught investors’ attention. The stock surged as much as 11.45% to touch a fresh 52-week high of ₹2,160 before closing at ₹2,131.70, up 9.99%. Trading activity also remained unusually strong, with volumes moving well above the average and reaching the highest levels seen since October 2024. Technically, Venus Pipes continues to display a strong bullish structure following a sharp breakout backed by robust volumes. The ₹2,275 level is an important resistance, while ₹2,450 marks the previous all-time high from August 2024. On the downside, ₹1,875 is a key near-term support, while ₹1,530 remains an important broader support level. With the stock near record territory, traders will closely track price action around these levels. Disclosure: I do not hold any position or have any financial interest in the mentioned stock. Disclaimer: Investments in securities are subject to market risk. This is for educational purposes only. Investors must verify information before investing and consider their financial position & risk profile.