United Drilling Tools Limited (UDTL) shares jumped 6% after securing a ₹1,486.62 million order from Vedanta Limited (Cairn Oil & Gas), a leader in natural resources. This three-year contract involves supplying Oil Country Tubular Goods (OCTG), including casing, tubing, pup joints, and X-overs, tailored for offshore and deep basin applications.
The deal cements UDTL’s growing influence in the oil and gas sector, competing with giants like Sumitomo and Marubeni Corporation. As the global OCTG market is set to grow from USD 24.93 billion in 2023 to USD 46.61 billion by 2032, this milestone positions UDTL for significant growth and expansion in a high-demand market.
United Drilling Tools shares opened at 286.90, reaching a high of 294.90 and a low of 284.70 during the trading session. The stock is currently well below its 52-week high of 319.00 but remains above its 52-week low of 195.00.
As of 9:35 am, United Drilling Tools shares were trading 5.24% higher at Rs 289.45 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
