Maharashtra Seamless advanced 3.06% to Rs 855.55 after the company announced that its board will meet on Monday, 17 October 2022 to consider issue of bonus shares and sub division of the company's existing equity shares of Rs 5 each.
On 17 October 2022, the board will also consider the unaudited financial results for the quarter ended 30 September 2022.
Maharashtra Seamless (MSL) manufactures seamless pipes & tubes with the finest quality and wide product range using the world renowned CPE technology. MSL made a foray in the ERW pipe category and also started coated facility. The company has also diversified into renewable power generation and rig operations.
The company's consolidated net profit jumped 59.91% to Rs 153.23 crore on a 93.25% increase in sales to Rs 1,334.37 crore in Q1 FY23 over Q1 FY22.
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