India's Maharashtra Seamless near 5-month high on order win

Maharashtra Seamless

24/04/2023 05:28

** Shares Maharashtra Seamless Ltd  MHSM.NS  rise as much as
3.5% to 419 rupees, their highest since Nov. 25
    ** Co gets ~2.62 bln rupees (~$32 mln) order from ONGC Ltd
 ONGC.NS  for supply of seamless tubing pipes and accessories
    ** Trading vol by 9:52 a.m. IST is 50% of 30-day moving avg
    ** MHSM last up ~3%, taking gains in April so far to ~16.5%
    ** Stock fell in Jan and Feb, but March and Apr jumps takes
YTD gains to ~28.5%
 
 ($1 = 82.0850 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))