ONGC Awards Rs 217 Crore Seamless Pipe Contract to Maharashtra Seamless
Maharashtra Seamless secures a Rs 217-crore seamless pipe order from ONGC, with phased deliveries over upcoming quarters.
New Delhi November 28.: Maharashtra Seamless Limited has secured a new order worth about Rs 217 crore from Oil and Natural Gas Corporation (ONGC). The company announced this in its stock exchange filing on Friday,
The order is for the supply of seamless pipes needed for ONGC’s oil and gas operations. Deliveries will occur in phases over the next few quarters based on ONGC’s demand.
This new contract shows the company’s strong order flow from the energy sector, where seamless pipes are essential for drilling, exploration, and production activities.
Shares of Maharashtra Seamless closed Rs 8.20 higher, up 1.43%, at Rs 583.30 on Friday, just before the announcement.
In September, the company also received a Rs 265-crore order for seamless pipes in the oil and gas sector, which is being supplied in phases according to customer needs.