Maharashtra Seamless gains 1.5% on Rs197 crore order win from ONGC

24 Aug 2022 , 09:49 AM

Maharashtra Seamless Limited has informed that the Company has received an order with basic value of Rs197 crore for casing pipes from ONGC Ltd.

As per the regulatory filing, ONGC will utilize these pipes for its oil and gas exploration activities in Rajasthan, Gujarat, Andhra Pradesh, Assam and Tripura. 

“As India is ramping up its exploration and production activities in oil and gas vertical, the Company expects sustainable improvement and  growth in domestic demand for its products”, Maharashtra Seamless said on Tuesday.

On Wednesday, at around 9:50 AM, Maharashtra Seamless was currently trading at Rs820.25 per share up by Rs11.1 or 1.37% while Oil & Natural Gas Corpn was trading higher by 1.79% at Rs136.15 per share on the BSE.