United Drilling spurts on bagging Rs 18-cr order from Oil India
Shares of Oil India shed 0.66% to 442.80 on the BSE.
The order is scheduled to be fulfilled over a period of approximately 5 Months.
Commenting on the development, the chief financial officer said, We look forward to further strengthening our partnership with Oil India, as well as expanding our relationships with both Indian and international customers.
The company clarified that neither the promoter nor the promoter group companies have any interest in the entity that awarded the contract. It also confirmed that the order does not fall under related party transactions.
United Drilling Tools is a leading manufacturer of oil drilling-related equipment in the country. The company has obtained global quality standards for its major products.
Oil India is engaged in exploration, development, and production of crude oil and natural gas, transportation of crude oil, and production of LPG. It also provides various E&P-related services for oil blocks.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
18 minutes ago
- Economic Times
Titan shares in focus after Q1 update as consumer business grows 20% YoY and 10 new stores added
Titan Company saw a 20% year-on-year growth in its consumer business for Q1FY26. The company added 10 stores, expanding its network to 3,322 outlets. Synopsis Titan Company's shares are in focus following a reported 20% YoY growth in its consumer business for Q1FY26. Domestic jewellery operations saw an 18% increase, though gold price volatility impacted consumer sentiment. Watch business experienced a strong 23% YoY growth, while EyeCare grew by 12%. International business surged by approximately 49%, driven by Tanishq's expansion in the US market. Shares of Titan Company will be in focus on Tuesday after the lifestyle major reported a 20% year-on-year (YoY) growth in its consumer business for Q1FY26, along with a net addition of 10 stores, expanding its retail network to 3,322 outlets. ADVERTISEMENT The company's domestic jewellery operations grew 18% YoY, although consumer sentiment was impacted by gold price volatility during the quarter. While the Akshaya Tritiya period saw good traction, the increase in gold prices from May till mid-June, saw some softening in customer purchases, a company filing to the exchanges said. Buyer growth was flat (YoY) for both TMZ and CaratLane. In the high gold rate scenario, customers preferred light weight and lower karatage jewelry. "The studded ratio came in lower YoY driven by the differential growths across segments (in TMZ), with coins continuing to lead strongly, plain gold growing in mid-teens and studded segment growth coming in early double digits. The like-to-like (L2L) domestic sales growth in TMZ were in early double digits, driven entirely by ticket size growth across formats, and the L2Ls in CaratLane were in healthy double-digits. Of the 19 new store additions (net) in India, 3 were in Tanishq, 7 in Mia and 9 in CaratLane respectively," the filing said. Also Read: Street favourite! 10 BSE large-cap stocks analysts expect to rally up to 70% ADVERTISEMENT Watches domestic business clocked a strong quarter of 23% YoY growth led by analog driven by both volume and value growth. Sonata with its refreshed offerings led the growth charts for the quarter, closely followed by Titan and well supported by Fastrack and International brands, all clocking healthy double-digit growths. The division added 9 new stores (net) consisting of 4 stores in Titan World and 5 in Helios respectively. ADVERTISEMENT EyeCare's domestic business grew 12% YoY led by performances across Retail and E-commerce, by both International and House brands. Titan Eye+ retail opened 12 new doors and closed 32 stores resulting in 20 domestic store closures (net) for the quarter. ADVERTISEMENT In the Emerging Businesses (domestic), Fragrances grew 56% YoY led by volume growths in SKINN and Fastrack, Women's Bags grew c.61% YoY and Taneira grew 15% YoY driven by value growth in International Business grew c.49% YoY led by near doubling of Tanishq's business in the US market. The 1 new store addition (net) in the quarter consisted of Tanishq and Titan Eye+'s one new store opening (each) in UAE in Dubai and Sharjah respectively and closure of 1 Mia store in the consumer discretionary major had reported 13% growth in its consolidated net profit at Rs 871 crore in the fourth quarter, compared with Rs 771 crore in the year-ago quarter. Total income during the reporting period increased 22% YoY to Rs 14,049 crore. ADVERTISEMENT Also Read: 10 Nifty smallcap stocks analysts expect to rally up to 72% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
28 minutes ago
- Economic Times
Mphasis, 6 other stocks to trade ex-dividend tomorrow. Last opportunity to buy for benefit
Several companies, including Mphasis and Pfizer, will begin trading ex-dividend on Wednesday. July 9 is the record date for dividend eligibility. Mphasis, Pfizer, and other companies will trade ex-dividend starting Wednesday, with July 9 as the record date. To receive dividends, investors must purchase shares by today's trading session. The record date determines shareholder eligibility for dividend payouts. Following the T+1 settlement, the record and ex-date are typically the same. Tired of too many ads? Remove Ads What does a record date mean? Tired of too many ads? Remove Ads Why to buy one day before the record date? Which companies go ex-dividend on Wednesday? Mphasis has declared a final dividend of Rs 57 per share Pfizer has announced a final dividend of Rs 35 per share and a special dividend of Rs 130 per share Elegant Marbles & Grani Industries declared a final dividend of Rs 1 per share Johnson Controls – Hitachi Air Conditioning India announced an interim dividend of Rs 36 per share Kabra Extrusiontechnik will pay a final dividend of Rs 2.5 per share SJS Enterprises will distribute a final dividend of Rs 2.5 per share (25%). SML Isuzu declared a final dividend of Rs 18 per share The shares of a few companies like Mphasis and Pfizer , among others, will start trading on an ex-dividend basis from Wednesday, as the board of these companies had previously announced July 9 as the record date for the purpose of determining shareholder means that investors who wish to gain from the dividends of these companies should buy the shares of these companies by the end of today's trading session, so as to qualify for record date for a dividend is the cut-off date set by a company to determine which shareholders are eligible to receive the dividend. Only those who hold the company's shares on or before the record date are entitled to receive the dividend an investor buys the shares after the record date, they will not receive the dividend. To be eligible, investors typically need to purchase the shares at least one trading day before the ex-dividend date, which is usually set one or two days before the record the implementation of the T+1 framework, the record date and ex-date are the same in most cases unless there is a market holiday after the T+1 settlement system in the Indian stock market means that a trade is settled one business day after the trade date (T). So, if you buy or sell a stock on Monday (T), the settlement — i.e., transfer of shares and money — will be completed on Tuesday (T+1).: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
28 minutes ago
- Economic Times
Glen Industries IPO opens today. Check GMP, price band and other details
The initial public offering (IPO) of Glen Industries will open for subscription on July 8 aiming to raise Rs 63.02 crore through a fresh issue of 64.96 lakh equity shares. ADVERTISEMENT The BSE SME-bound IPO has set its price band at Rs 92–97 per share, with investor interest picking up momentum as the grey market premium stands at Rs 25–26, or 26% over the upper price band. Glen Industries manufactures eco-friendly packaging products such as compostable straws and thin-wall food containers, catering to HoReCa (Hotels, Restaurants, Cafés), dairy, and beverage industries. The company exports to several regions including the US, Europe, Australia, and the Middle East, with an established base of 25+ global minimum application size for retail investors is 2,400 IPO will close on July 10. Allotment is expected on July 11, with refunds and demat credits scheduled for July 14. The company's shares are set to list on BSE SME on July 15. ADVERTISEMENT Glen Industries plans to use the IPO proceeds primarily to set up a new manufacturing facility in West Bengal, with Rs 47.73 crore allocated for the project. The rest will go toward general corporate company has posted strong financials, with FY25 PAT rising 113% to Rs 18.27 crore on a revenue of Rs 171.3 crore. Glen aims to achieve a revenue milestone of Rs 1,000 crore by 2030, backed by a total investment plan of Rs 100.22 crore. ADVERTISEMENT "We are entering a strategic phase of growth and need to raise capital for our upcoming facility,' said Lalit Agrawal, Chairman and Managing Director of Glen Industries. "By balancing equity with debt, we've ensured minimal dilution while fuelling expansion." Glen Industries has appointed GYR Capital Advisors as the book-running lead manager and KFin Technologies as the registrar. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
