Maharashtra Seamless bags order worth Rs757 cr

Maharashtra Seamless bags order worth Rs757 cr

Mumbai: DP Jindal Group’s flagship firm Maharashtra Seamless today said it has bagged an order worth Rs757 crore from state-run Oil and Natural Gas Corporation for supply of seamless pipes.

“The delivery under this contract would commence immediately and would be spread in next 15 months and the revenues would be accrued accordingly," the firm said in a filing to the Bombay Stock Exchange.

With this contract, the order-book of the company stood at Rs1,370 crore.

In June, the pipe manufacturing company had won an export order of $45 million from a US firm.

Seamless pipes are used in extreme conditions such as those at oil fields and in transportation of gas.

Maharashtra Seamless was trading at Rs195.10, up 3.64% in morning trade on the BSE.