India's Maharashtra Seamless hits record high on becoming debt free

Maharashtra Seamless

12/06/2023 05:26

** Shares of Maharashtra Seamless Ltd  MHSM.NS  rise as much
as 5.3% to an all-time high of 498 rupees
    ** Steel pipes maker on Saturday said it became completely
debt free after making voluntary prepayment of a long-term loan
worth 2.34 bln rupees ($28.39 mln)
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since April 3, suggesting bullish bias
    ** Trading volume at ~400,000 shares, slightly below the
30-day avg of ~431,600 shares as of 9:35 a.m. IST 
    ** Stock last up ~49% so far this year

($1 = 82.4295 Indian Rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))