India's Maharashtra Seamless falls after demerger plan

Maharashtra Seamless

08/10/2026 06:57

** Shares of Maharashtra Seamless MHSM.NS fall 4.4% to 662.30 rupees
** Steel pipes and tubes maker to demerge its seamless pipe manufacturing business at Mangaon, Maharashtra into MSL Seamless Tubes and its seamless pipe manufacturing facility at Narketpally, Telangana into United Seamless
** Shares of MSL Seamless Tubes and United Seamless will be listed after completion of the demerger scheme
** MHSM says proposed restructuring to enable each undertaking to pursue an independent growth strategy aligned with its distinct business model, operational requirements, and market opportunities
** YTD, MHSM up ~18%

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))