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HomeMarket NewsMaharashtra Seamless receives ₹217-crore ONGC order for seamless pipes
Maharashtra Seamless Limited won a ₹217 crore order from Oil and Natural Gas Corporation for seamless pipes, Shares of the company closed ₹8.20 or 1.43% higher at ₹583.30 on Friday, November 28, ahead of the announcement.
Maharashtra Seamless Limited has secured a fresh order worth about ₹217 crore from state-run Oil and Natural Gas Corporation (ONGC), the company said in a regulatory filing on Friday, November 28.
The contract is for the supply of seamless pipes for ONGC’s oil and gas operations. The order will be executed through gradual dispatches over the next few quarters, depending on ONGC’s requirements, the company said in the exchange filing.
The deal underscores Maharashtra Seamless' steady order pipeline from the energy sector, where seamless pipes are widely used in exploration, drilling and production activities.
Shares of the company closed ₹8.20 or 1.43% higher at ₹583.30 on Friday, November 28, ahead of the announcement.
(Edited by : Shoma Bhattacharjee)
