Introduction:
Leading supplier in the oil and gas sector has secured a significant INR 1,486.62 million order from Vedanta. The order involves supplying various Oil Country Tubular Goods (OCTG) for offshore and deep basin applications over three years.
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Share price movement of United Drilling:
On December 12, 2024, United Drilling Tools Ltd opened at ₹287.35, up 4.53% from its previous close of ₹274.90. The stock reached a high of ₹294.90 (7.28%) and a low of ₹281.95. By 12:59 PM, it traded at ₹283.80, a 3.24% increase, with a market cap of ₹576.20 crore.
United Drilling wins Vedanta order:
United Drilling Tools Ltd (UDTL) has secured an order worth INR 1,486.62 million from Vedanta Limited The order, awarded by Cairn Oil & Gas, involves supplying Oil Country Tubular Goods (OCTG) and accessories over three years.
The order encompasses various sizes of OCTG, including casing, tubing, pup joints, and X-overs. These will be used in offshore and deep basin applications, further solidifying UDTL’s position in the oil and gas sector, while reflecting Vedanta’s trust in UDTL’s products and services.
The global OCTG market is expected to grow from USD 24.93 billion in 2023 to USD 46.61 billion by 2032. This growth presents UDTL with substantial opportunities to expand its product line and capitalize on rising demand in the oil and gas industry.
Ace investor holding in United Drilling:
Shashank S Khade
Shashank S Khade holds a 1.18% stake in United Drilling Tools Ltd, with 239,493 shares valued at ₹6.8 crore. His significant holding reflects confidence in the company’s growth and performance in the oil and gas sector.
Stock performance of United Drilling for Period of 1 week, 6 months and 1 year:
United Drilling Tools Ltd has shown strong performance, with a 3.38% return over the past week, 17.1% over the last six months, and 17.3% over the past year, reflecting consistent growth and positive market sentiment.
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Shareholding pattern of United Drilling:
All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
Promoter | 74.70% | 74.70% | 74.70% |
FII | 0.70% | 0.60% | 0.50% |
DII | 0.00% | 0.00% | 0.00% |
Public | 25% | 25% | 25% |
About United Drilling:
United Drilling Tools Ltd (NSE: UNIDT) is a leading manufacturer of high-quality drilling products for the oil and gas industry. Established in 1985, it specializes in precision tools and equipment, adhering to international standards and ISO certifications.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.