Maharashtra Seamless rallied 2.62% to Rs 920.70 after the iron & steel company announced that it has received order with basic value of Rs 674 crore from Oil and Natural Gas Corporation (ONGC).
Under the contract, the iron maker will supply casing seamless pipes in gradual dispatches within a period of 44 weeks.Maharashtra Seamless manufactures carbon and alloy steel seamless pipes, ERW (Electrical Resistance Welding) steel and castings pipes. The company also owns a wind power mill.
The company had reported 72.9% jump in consolidated net profit to Rs 275.95 crore on 6.9% rise in net sales to Rs 1,431.13 crore in Q3 FY24 over Q3 FY23.
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