Sealmatic India Shares Jump Over 9% On Order Win From Indian Oil Corp.
Shares of Sealmatic India Ltd. surged over 9% to hit a record high on Wednesday after it won an order to supply mechanical seals to Indian Oil Corp.
The company received an order to supply 60 API mechanical seals along with 60 API plans. The order entails the supply of high-critical mechanical seals for 52 pumps in the FCCU, VBU, and BBU units at Indian Oil Corp.'s Mathura refinery. This installation will create a profitable recurring spare parts business for the company through the lifetime of the equipment, according to an exchange filing.
Sealmatic offers a portfolio of seals and seal supply systems in accordance with API 682, fourth edition. API 682 is a standard of the American Petroleum Institute.
Shares of the company rose as much as 9.17% before paring gains to trade 7.66% higher at 10:23 a.m., compared to a 0.64% advance in the Nifty 50.
The total traded quantity so far in the day stood at 2.9 times the 30-day average volume. The stock's relative strength index stands at 83, indicating that it may be overbought.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
