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Maharashtra Seamless soars on bagging order worth Rs 500 crore from ONGC

Maharashtra Seamless soars on bagging order worth Rs 500 crore from ONGC

Maharashtra Seamless is currently trading at Rs. 368.00, up by 8.45 points or 2.35% from its previous closing of Rs. 359.55 on the BSE.

The scrip opened at Rs. 371.00 and has touched a high and low of Rs. 373.00 and Rs. 367.50 respectively.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 532.00 on 18-Dec-2018 and a 52 week low of Rs. 342.00 on 15-Oct-2019.

Last one week high and low of the scrip stood at Rs. 381.00 and Rs. 356.70 respectively. The current market cap of the company is Rs. 2408.97 crore.

The promoters holding in the company stood at 62.58%, while Institutions and Non-Institutions held 10.31% and 27.10% respectively.

Maharashtra Seamless (MSL) has successfully bagged Rs 500 crore (about $70 million). The company has bagged order for supply of seamless casings to Oil and Natural Gas Corporation (ONGC) against stiff competition.

Maharashtra Seamless provides a whole range of high-class, customizable and innovative seamless pipes and tubes using state-of-art technology. The company also manufactures ERW Pipes and Coated Pipes. The company also engaged in the business of Wind Power, Steel Pipes & Tubes.