Sealmatic India jumps on entering into strategic partnership with Fluiten OOO
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Sealmatic India is currently trading at Rs. 555.00, up by 11.60 points or 2.13% from its previous closing of Rs. 543.40 on the BSE.
The scrip opened at Rs. 549.90 and has touched a high and low of Rs. 572.00 and Rs. 545.05 respectively. So far 12450 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 869.00 on 16-Feb-2024 and a 52 week low of Rs. 498.00 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 572.00 and Rs. 530.00 respectively. The current market cap of the company is Rs. 502.28 crore.
The promoters holding in the company stood at 72.38%, while Institutions and Non-Institutions held 0.12% and 27.50% respectively.
Sealmatic India has entered into strategic partnership with Fluiten OOO. The collaboration of Sealmatic with Fluiten OOO marks a significant step for Sealmatic global expansion strategy, aiming to cater to the diverse demands of Russian industries while delivering world class mechanical sealing solutions.
The partnership between the company and Fluiten OOO is to establish a robust presence in the Russian market, focusing on the sale, repair and refurbishment of Sealmatic mechanical seals. This collaboration seeks to serve prominent end users such as Lukoil, Rosneft, Gazprom, EUROCHEM etc., along with a host of other EPC companies. Also catering to key process industries, including Petrochemical, Power, Water, Desalination, Chemical, Mines & Minerals.
Sealmatic India is engaged in the business of designing and manufacturing of mechanical seals and associated products. Mechanical seals are mainly used in Oil & Gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp & paper, aerospace, marine and other industrial.
