Hot Pursuit     24-Apr-23
Maharashtra Seamless gains on bagging order worth Rs 262 cr from ONGC
Maharashtra Seamless rallied 3.20% to Rs 418 after the company received orders from Oil and Natural Gas Corporation (ONGC) with basic value Rs 262 crore for supply of seamless tubing pipes
The scope of order includes supply of seamless tubing pipes to various locations including Gujarat, Rajasthan, West Bengal, Assam and Tripura as required by ONGC.

The order will be dispatch gradually over the course of 42 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's consolidated net profit jumped 81.4% to Rs 171.76 crore on 17.5% rise in net sales to Rs 1,338.49 crore in Q3 FY23 over Q3 FY22.

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