Maharashtra Seamless has won an order of INR 116 from IOCL for the supply of seamless pipes leading to a rise of 2 percent in their shares.
Jan 30, 2023
Maharashtra Seamless, one of the largest manufacturers of seamless steel pipes and tubes, recently secured two contracts with a total basic value of INR 116 crore from Indian Oil Corporation for the supply of seamless pipes. The company’s share rose by 2 percent after securing the order from IOCL. The company will dispatch the pipes as and when required by IOCL. In December 2023, ONGC gave the company an order for the supply of premium casing seamless pipes with a value of approximately INR 187 crore. A meeting of the company’s board of directors is planned for January 29th to review and approve preliminary and unaudited financial statements for the third quarter and final quarter of 2023.