Maharashtra Seamless stock gains over 1% on securing order of Rs130 crore

18 Jul 2022 , 11:22 AM

Maharashtra Seamless Limited stocks rally in the market on Monday as it has received its first order of subsea sour service seamless pipes from an esteemed customer with basic value of Rs130 crore approx.

The Company has displayed its technical expertise by successfully developing subsea sour service seamless pipes in-house in its continuous efforts to provide import substitution products and enhance margins. Subsea sour service seamless pipes are high value addition pipes and are used for subsea transportation of crude oil and gas in high pressure environments.

Capacities for these pipes have been developed for the first time in India keeping in view the Government’s policy of Aatmanirbhar Bharat, the company said.

At around 11:23 AM, Maharashtra Seamless was trading at Rs680.10 per share up by Rs8.65 or 1.29% from its previous closing of Rs671.45 per share on the BSE.