United Drilling zooms ~10% with listing of equity shares on NSE

UDTL’s share will trade on the NSE under the ticker symbol “UNIDT”.

Sep 25, 2020 03:09 IST India Infoline News Service

United Drilling Tools Limited (UDTL) announced Friday that its shares are trading on the National Stock Exchange (NSE) effective at the open of markets September 25, 2020. UDTL’s share will trade on the NSE under the ticker symbol “UNIDT”.

United Drilling Tools Ltd is currently trading at Rs260.15, up by Rs23.35 or 9.86% from its previous closing of Rs236.80 on the BSE. The scrip opened at Rs244 and has touched a high and low of Rs260.45 and Rs240 respectively.

“We are pleased to inform that our company’s shares will also be trading on the NSE from today i.e. September 25, 2020, this earmarks one of the credible milestones for UDTL, further this will help grow and strengthen the visibility of UDTL amongst the capital market community. While being a strong leader in domestic geography with ~50% of market share in drilling tools and equipment’s for upstream oil and gas exploration. We are also expanding our global footprints by bidding for tailor-made tenders with some global giants in oil and gas sectors. Also, we have been poised to grow with our healthy financial profile that records a 5-year CAGR of 25.8% in Revenue and 27.7% in EBITDA,” Pramod Gupta, Chairman & Managing Director, United Drilling Tools Ltd, said.

The company informed the exchanges that listing of UDTL’s Equity shares on NSE will ensure consistency and transparency which will enhance investor’s confidence and visibility. Apart from monitoring the explicitness, NSE will entitle the investors with following perquisites; Ensuring a lower impact cost, Visibility, Unprecedented Global Reach and Settlement Guarantee.

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