Maharashtra Seamless shares up 2% on winning Rs 116-cr contract from IOC

Maharashtra Seamless will dispatch the pipes as and when required by Indian Oil Corporation.

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The share price of Maharashtra Seamless rose 2.5 percent in the opening trade on January 29 after the company received two contracts with an aggregate basic value of Rs 116 crore approximately from Indian Oil Corporation for the supply of seamless pipes.

Maharashtra Seamless will dispatch the pipes as and when required by Indian Oil Corporation.

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In December 2023, the company received an order with a basic value of Rs 187 crore approximately from ONGC for the supply of premium casing seamless pipes.

The meeting of board of directors of the company is scheduled to be held on January 29 to consider and approve the un-audited financial results for the quarter and nine months ended on December 31, 2023.