Maharashtra Seamless bags Rs 421 cr order from ONGC
Shital Jibhe / 09 Feb 2017
Maharashtra Seamless has bagged an order from oil and natural gas corporation (ONGC) worth Rs 421 crore for the supply of seamless casings amid global and domestic competition.
Maharashtra Seamless has bagged an order from oil and natural gas corporation (ONGC) worth Rs 421 crore for the supply of seamless casings amid global and domestic competition.
Shares of Maharashtra Seamless touched 52-week high of Rs 293, and rises 5.6 per cent intraday on Thursday after receiving order from ONGC. The stock of the company has spiced up in trade, and in the last one year, the stock has surged by 98.47 per cent, outperforming the Bombay Stock Exchange (BSE) small-cap index. It is trading with a price/earnings (P/E) of 17.70.
Maharashtra Seamless is a market leader in seamless and ERW pipes in the country. Reliance Mutual Fund is the top fund house which has invested in the stock of the company.
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