Maharashtra Seamless receives ₹217-crore ONGC order for seamless pipes

Maharashtra Seamless Limited has secured a fresh order worth about ₹217 crore from state-run Oil and Natural Gas Corporation (ONGC), the company said in a regulatory filing on Friday, November 28.

The contract is for the supply of seamless pipes for ONGC’s oil and gas operations. The order will be executed through gradual dispatches over the next few quarters, depending on ONGC’s requirements, the company said in the exchange filing.

The deal underscores Maharashtra Seamless' steady order pipeline

from the energy sector, where seamless pipes are widely used in exploration, drilling and production activities.

Shares of the company closed ₹8.20 or 1.43% higher at ₹583.30 on Friday, November 28, ahead of the announcement.

The steel pipe manufacturer also won a ₹265 crore order for the supply of seamless pipes in the oil and gas sector in September this year, which was agreed be dispatched gradually over the two following quarters according to the customer's requirement .