ISMT shares gain 3% on winning two contracts from ONGC

The contracts, which were received on April 12th, are for the supply of regular casing pipes and have a total value of approximately Rs 343.72 crore.

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ISMT’s share price increased by 3% in early trade on April 15th after the company was awarded two contracts from Oil and Natural Gas Corporation Limited (ONGC). The contracts, which were received on April 12th, are for the supply of regular casing pipes and have a total value of approximately Rs 343.72 crore. The contracts are expected to be executed between April 11, 2024 and February 13, 2025. As of 9:49 am, ISMT was quoting at Rs 99.25, up by Rs 2.98 or 3.10% on the BSE.

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The share of ISMT touched a 52-week high of Rs 112.24 and a 52-week low of Rs 68.10 on 30 January, 2024 and 17 April, 2023, respectively.

Currently, the stock is trading 11.57 percent below its 52-week high and 45.74 percent above its 52-week low.

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