Linde India rises on inking long-term agreement with Jindal Stainless
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Linde India is currently trading at Rs. 3724.60, up by 44.65 points or 1.21% from its previous closing of Rs. 3679.95 on the BSE.
The scrip opened at Rs. 3699.00 and has touched a high and low of Rs. 3742.90 and Rs. 3655.00 respectively. So far 89 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4192.35 on 11-Apr-2022 and a 52 week low of Rs. 1701.85 on 05-Aug-2021.
Last one week high and low of the scrip stood at Rs. 3725.00 and Rs. 3530.00 respectively. The current market cap of the company is Rs. 31384.17 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 10.62% and 14.38% respectively.
Linde India has signed a long-term agreement with Jindal Stainless (JSL), the largest stainless-steel conglomerate in India for setting up of a 1,450 tonnes per day new Air Separation Unit (ASU) to meet industrial gases requirement for JSL's expansion project at Kalinganagar in Odisha.
Pursuant to the long-term agreement, Linde India will design, build, operate and maintain the ASU facility at Kalinganagar Industrial Estate, Odisha, one of India's key steel clusters. The new ASU will supply to JSL 1,450 tonnes per day of Oxygen, 1,800 tonnes per day of Nitrogen and 64 tonnes per day of Argon and will have additional capacity to cater to demand in the merchant market.
Linde India is engaged in manufacturing of industrial gases and undertaking engineering projects.
