Shares of Maharashtra Seamless Ltd have been buying and selling 2% increased on 25 September after the corporate introduced securing an order value Rs 256 crore.
In its regulatory submitting, the corporate stated that it has secured a Rs 256 crore order to produce seamless pipes for the oil and fuel sector, prompting the counter-buying. The order might be progressively dispatched over the following two quarters based mostly on the shopper’s necessities. The client’s particulars weren’t revealed within the trade submitting.
The submitting added, “We’re happy to tell you that the corporate has obtained an order with a primary worth of Rs. 256 crores approx. for the availability of seamless pipes.”
Except for that, India’s antitrust investigators not too long ago carried out shock raids on metal pipe producers Jindal SAW and Maharashtra Seamless in an alleged bid-rigging case, two individuals with firsthand information of the state of affairs stated on Tuesday.
The raids have been carried out on Monday on the workplaces of Jindal SAW and Maharashtra Seamless in and round New Delhi, and the search operation is now full, in line with the 2 people.
Maharashtra Seamless Restricted (MSL), based on 10 Could 1988, is the flagship agency of the varied DP Jindal Group. MSL specialises within the manufacture of seamless pipes and tubes, and it provides a variety of high-quality merchandise made with subtle CPE know-how. In 2000, the corporate expanded its product line by getting into the Electrical Resistance Welded (ERW) pipe business.
Moreover, MSL has expanded its operations into renewable power era and rig companies. The corporate has a cutting-edge manufacturing facility in Raigad, Maharashtra, that’s absolutely suited to assist its manufacturing capacities.
At 11:50 am, the shares of Maharashtra Seamless have been buying and selling 1.23% increased at Rs 611.15 on NSE.
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