Rs 1,459 crore order book and FIIs & DIIs increase stake: This multibagger iron & steel company bags new order worth Rs 187 crore from ONGC!

The stock gave multibagger returns of over 100 per cent in just 6 months and a whopping 165 per cent in 1 year.

Maharashtra Seamless Ltd informed that the company has received an order with a basic value of Rs 187 crores approx. from ONGC Ltd which is a domestic entity. The order includes the supply of premium casing seamless pipes. The order will be gradually dispatched within a period of 44 weeks.

Formed in 1988, Maharashtra Seamless Limited reigns supreme in the realm of steel pipes and tubes, commanding a staggering 55 per cent share in the seamless segment. But this industrial giant doesn't stop at shaping metal - it also harnesses its might to generate power, solidifying its position as a multifaceted force in India's infrastructure landscape.

The company has a market cap of over Rs 12,000 crore and has delivered good profit growth of 32.1 per cent CAGR over the last 5 years. The company also reported amazing numbers in its Quarterly Results and annual results. As of September 2023, FIIs have increased their stake to 7.98 per cent compared to 5.96 per cent in July 2023 while DIIs have increased their stake to 4.26 per cent compared to 4.18 per cent in July 2023.

Today, shares of Maharashtra Seamless Ltd plunged 2.40 per cent to Rs 916 per share with an intraday high of Rs 952.60 and an intraday low of Rs 912.30. The stock’s 52-week high is Rs 1,082.10 and its 52-week low is Rs 279. As of September 30, 2023, the company’s order book stands at Rs 1,459 crore.

The stock gave multibagger returns of over 100 per cent in just 6 months and a whopping 165 per cent in 1 year. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.