Oil & Gas Drilling Tools & Equipment Company Bags New Order Worth Rs 1,486.62 Million From Vedanta Ltd
The stock is up over 50 per cent from its 52-week low of Rs 195.40 per share.
United Drilling Tools Ltd. (UDTL) has secured a significant order worth Rs 1,486.62 million from Vedanta Limited (Cairn Oil & Gas). This order, spanning three years, involves the supply of Oil Country Tubular Goods (OCTG), including casing, tubing, pup joints, and X-overs for offshore and deep basin applications. This substantial order underscores UDTL's strong position in the oil and gas industry and highlights the trust placed in its high-quality products and services by a global leader like Vedanta.
The global OCTG market is poised for significant growth, with projections estimating a value of USD 46.61 billion by 2032. This presents a promising opportunity for UDTL to expand its product line and capitalize on the increasing demand. The company remains committed to its position as a trusted provider of oil drilling equipment, investing in research and development to enhance its product portfolio and maintain its technological edge. Rigorous quality control processes ensure that all products consistently meet international standards.
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United Drilling Tools Ltd. (UDTL) is a renowned manufacturer of crucial equipment for the oil and gas industry. Their product range encompasses high-performance connectors, casing pipes, wireline winches, artificial gas lift equipment, and downhole tools. These products are indispensable for efficient and secure drilling operations, both on land and offshore. UDT is committed to quality and innovation, ensuring that they consistently meet the evolving demands of the oil and gas sector.
Established in 1985 and headquartered in Noida, Uttar Pradesh, India, UDTL has solidified its position as a leading manufacturer of large-diameter casing pipes with connectors, wireline and well service equipment, gas lift equipment, and downhole tools. Their products are designed to be reliable, high-quality, and competitively priced. UDT adheres to international standards such as ISO and API, and they continuously strive to improve and innovate their offerings. With 29 registered trademarks and 14 design patents, UDT showcases its dedication to intellectual property and product differentiation.
The company has obtained global quality standards for its major products. The company has a market cap of Rs 577 crore. The stock is up over 50 per cent from its 52-week low of Rs 195.40 per share.
Disclaimer: The article is for informational purposes only and not investment advice.