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Nuclear stock jumps 4% after it receives approval from Kuwait Petroleum Company

Nuclear stock secured approval from Kuwait Petroleum Company, entering Kuwait's USD 70 million mechanical seal market, showing expertise in delivering advanced solutions for the global oil and gas sector.
Nuclear stock secured Kuwait Petroleum approval, entering USD 70M seal market globally.
Nuclear stock secured Kuwait Petroleum approval, entering USD 70M seal market globally.

Introduction:

Nuclear stock achieved a milestone by securing approval from Kuwait Petroleum Company, enabling entry into Kuwait’s USD 70 million mechanical seal market. This approval underscores its commitment to delivering advanced sealing solutions for the global oil and gas industry.

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Share Price movement of Sealmatic India:

On January 21, 2025, Sealmatic India Ltd opened at ₹538.75. The stock reached a high of ₹550.00 up 4.13% from its previous close of ₹528.15 and a low of ₹527.00. Currently it is traded at ₹534.95, with a market cap of ₹484.13 crore.

Sealmatic India share price up:

Sealmatic India Limited has secured a significant approval from Kuwait Petroleum Company (KPC), including its subsidiaries like KOC and KNPC. This milestone highlights Sealmatic’s commitment to delivering innovative, reliable, and high-quality sealing solutions for the global oil and gas industry.

KPC’s ambitious strategy aims to boost oil production capacity to 3.65 million barrels per day by 2035 and daily gas production to 1.5 trillion cubic feet by 2040. This approval positions Sealmatic to tap into Kuwait’s mechanical seal market, valued at USD 70 million.

Sealmatic’s Vice President, Samir Mullaji, credited their dedicated “Dream Team” for this achievement. The KPC certification reinforces Sealmatic’s global reputation as a trusted partner and industry leader in providing advanced mechanical seals for energy sector mega-projects.

Also Read: Stocks To Watch For Budget 2025

Recent news About Sealmatic India :

On January 13, 2025, Sealmatic India Ltd announced successfully developing and supplying critical mechanical seals for defence applications, including midget submarines, light combat aircraft, and Kalvari-class submarines, showcasing its expertise and commitment to India’s naval and defence sector advancements.

Stock performance of Sealmatic India for Period of 1 week, 6 months and 1 year:

Sealmatic India’s stock performance over different periods shows varied trends. Over the past week, it gained 2.05%, indicating short-term momentum. However, the stock declined by 22.3% over six months and 3.45% over the last year, reflecting broader challenges.

Also Read: Best Sectors To Watch For Budget 2025

Shareholding pattern of Sealmatic India:

SummarySep-24Mar-24
Promoter 72.40%72.40%
FII0%0%
DII 0.10%2.90%
Public27.50%24.70%
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About Sealmatic India:

Sealmatic India specializes in designing and manufacturing advanced mechanical seals and systems for diverse industries, including oil and gas, power, and chemicals. Known for innovation and quality, it serves global markets, delivering reliable solutions for complex engineering challenges.

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.

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