Indian Seamless Metal Tubes (ISMT) rallied 3.06% to Rs 99.25 after the company received two contracts from Oil and Natural Gas Corporation worth Rs 343.72 crore.
The scope of order includes supply of regular casing pipes as per specifications given in both the contracts.The time period for the completion of the projects is from 11 April 2024 to 13 February 2025.
ISMT is mainly engaged in manufacturing of seamless tubes and engineering steels.
The companys consolidated net profit jumped 114.02% to Rs 61.96 crore on 7.39% increase in revenue from operations to Rs 635.28 crore in Q3 FY24 over Q3 FY23.
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