Dividend-Paying Stock: Maharashtra Seamless Grabs Order Worth 298 Cr; Shares Down 30% From 52 Wks High

A BSE 500 company, Maharashtra Seamless Limited (MSL), a leading manufacturer of seamless and ERW (Electric Resistance Welded) pipes, has bagged an order worth Rs. 298 crore. The company's robust financials, strong order book, and consistent dividends make it an attractive investment option. Let's take a look at its share performance, corporate history, and key financial aspects.

Maharashtra Seamless Share Price Movement

As of the latest trading session, Maharashtra Seamless' share price stands at Rs.671.90, reflecting a gain of Rs.10.50 (1.59%) for the day. Over the past five days, the stock has risen by 7.39%, while in the last month, it has gained 10.88%. However, on a year-to-date basis, the stock has declined by 11.62%, and over the past year, it has dropped by 22.97%. The stock has experienced significant volatility due to broader market movements and sector-specific trends. Maharashtra Seamless has a market capitalization of Rs. 9,014.96 crore, with a 52-week high of Rs. 964.35 and a 52-week low of Rs. 562.65, indicating wide fluctuations in its trading range.

Maharashtra Seamless Latest Order

Maharashtra Seamless has secured a domestic order worth approximately Rs.298 crores for the supply of seamless pipes in the oil & gas sector. The order has been awarded by a domestic entity and will be executed through gradual dispatches over the next few quarters as per the customer's requirements. This contract strictly involves the supply of seamless pipes and does not fall under related party transactions. Additionally, the company's promoter, promoter group, or group companies have no interest in the awarding entity.

Maharashtra Seamless Dividend History

Maharashtra Seamless has consistently rewarded its shareholders with dividends. According to Trendlyne data, the company has declared 25 dividends since August 29, 2003. Over the past 12 months, Maharashtra Seamless Ltd. has announced an equity dividend of Rs.10.00 per share. Based on the current share price of Rs.673.05, the stock offers a dividend yield of 1.49%.

Maharashtra Seamless Bonus Share History

Maharashtra Seamless has previously issued bonus shares as part of its strategy to enhance shareholder value. According to Trendlyne data, the company has announced one bonus issue since November 25, 2022. The most recent bonus was issued in a 1:1 ratio, with the ex-date set for November 25, 2022.

About Maharashtra Seamless Limited (MSL)

Maharashtra Seamless Limited (MSL), a flagship company of the DP Jindal Group, is one of India's leading manufacturers of seamless and ERW (Electric Resistance Welded) pipes. Established in 1988, the company plays a crucial role in supplying high-quality pipes for industries such as oil & gas, power, infrastructure, and automotive.