Maharahstra Seamless jumps on ONGC order

DALAL STREET SPIKES

Maharashtra Seamless rose over 6 per cent today after bagging an order worth Rs 757 crore. However, the stock gave away most of its gains due to weak market conditions and ended the day 1 per cent higher at Rs 190.20.

The company has secured the order from ONGC for supply of seamless casing pipes. The project is to be completed in the next 15 months. With this order, Maharashtra Seamless’ total order book is Rs 1,370 crore.

The stock touched an intraday high of Rs 200 and a low of Rs 180, with trading volumes of 55,085 shares. The counter witnessed delivery volumes of about 61 per cent.