Smallcap stock jumps 6% after it receives order worth ?1486 Mil from Vedanta

The leading supplier in the oil and gas sector has secured a significant INR 1,486.62 million order from Vedanta. The order involves supplying various Oil Country Tubular Goods (OCTG) for offshore and deep basin applications over three years.

About United Drilling:

United Drilling Tools Ltd (NSE: UNIDT) is a leading manufacturer of high-quality drilling products for the oil and gas industry. Established in 1985, it specializes in precision tools and equipment, adhering to international standards and ISO certifications.

United Drilling wins Vedanta order:

United Drilling Tools Ltd (UDTL) has secured an order worth INR 1,486.62 million from Vedanta Limited The order, awarded by Cairn Oil & Gas, involves supplying Oil Country Tubular Goods (OCTG) and accessories over three years.

The order encompasses various sizes of OCTG, including casing, tubing, pup joints, and X-overs. These will be used in offshore and deep basin applications, further solidifying UDTL’s position in the oil and gas sector, while reflecting Vedanta’s trust in UDTL’s products and services.

The global OCTG market is expected to grow from USD 24.93 billion in 2023 to USD 46.61 billion by 2032. This growth presents UDTL with substantial opportunities to expand its product line and capitalize on rising demand in the oil and gas industry.

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