11 hours ago
- Business
- Business Standard
United Drilling spurts on bagging Rs 108-cr order from ONGC
United Drilling Tools zoomed 19.82% to Rs 242.70 after the firm said that it has secured a significant order from Oil and Natural Gas Corporation for the supply of large outer diameter (OD) casing pipes with connector totaling to Rs 107.55 crore
Shares of Oil and Natural Gas Corporation rose 1.43% to 255.10 on the BSE.
The order is scheduled to be fulfilled over a period of approximately 9 Months.
With the addition of this significant order, United Drilling Tools said its total order book has expanded to approximately Rs 250280 crore.
The company noted that this development reflects the continued confidence its clients place in its capabilities and reaffirms its strong position in the oilfield equipment market.
This prestigious order not only reaffirms United Drilling Tools (UDTL) strong partnership with ONGC but also underscores the companys commitment to stringent quality standards and a customer-centric approach. ONGCs continued selection of UDTL over the years serves as a testament to the trust and satisfaction the company has consistently earned through its high-performance products and reliable services.
Manoj Kumar Arora, chief financial officer of the company said, we are honoured to receive yet another important order from ONGC, which reinforces the confidence they continue to place in UDTLs capabilities and reflects our firm focus on excellence and our positive approach toward meeting the evolving needs of the oil and gas sector as, we remain committed to delivering high value technical products, cutting-edge oilfield solutions for our customers.
With a proactive and forward-looking outlook, UDTL continues to expand its presence in both domestic and international markets, delivering world-class oilfield equipment to clients across India, the Middle East, Southeast Asia and parts of Africa. The growing global recognition of UDTLs brand speaks volumes about the trust, performance, and satisfaction experienced by its international clientele.
Powered by advanced manufacturing infrastructure, robust R&D, and a skilled technical team, UDTL is well-positioned to capitalize on future opportunities, support Indias energy mission, and contribute to global oil and gas development with confidence, commitment, and innovation. This new order not only reinforces UDTLs leadership in the industry but also serves as a positive step forward in its vision to be recognized globally as a trusted and preferred partner in the oilfield equipment manufacturing sector.
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.
Maharatna Oil and Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held a 58.89% stake in ONGC as of March 2025.
