Venus Pipes & Tubes shares hit a day high of Rs 1,910 on 21 October, up 4%, after an early pipe spooling start and a Rs 185 crore LOI.

In an exchange filing on 20 October, the Gujarat-based stainless steel pipe maker said part of its dedicated pipe spooling capacity has begun commercial production at Dhaneti.

The plan was December 2026. Think of it as ready-made pipe sections. Factory teams cut, bend and weld the pipes beforehand, so site workers only need to fit them in place.

The data centre customer behind the order intent wants this kind of ready-to-fit piping. A letter of intent, or LOI, is a written signal that a buyer plans to place an order.

It is not the order itself. Until then, the Rs 185 crore remains a promise rather than booked revenue.

The company expects firm orders to follow in the coming days, while the rest of the spooling capacity will switch on in phases over the next few months.

Put simply, the firm wants machines and staff ready before the paperwork lands. Once a firm order arrives, delivery can start sooner.

Managing Director Arun Kothari said the early start will ‘reduce lead times and facilitate faster execution and dispatch’ once orders are received.

Venus Pipes posted record quarterly revenue of Rs 320.5 crore for Q1 FY27 in August, up 16% year on year.

Shareholders also met on 8 October to vote on a Rs 372 crore preferential share issue.

At 9:55 am, it’s trading at Rs 1,877 on NSE, up by 2.47% from the previous close of Rs 1,831.70, after opening at Rs 1,880.50 and swinging between Rs 1,848 and Rs 1,910 so far.

Over the past month, though, the stock has lost 15.93%. It remains 43.41% higher across one year.

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