RBM Infracon receives a service order worth Rs 3,498 crore from ONGC.

RBM Infracon Limited is a multi-industry company that has completed many projects with a team of highly skilled engineers and technicians. What distinguishes us from the competition is our proficiency with intricate mechanical and rotary apparatus. Our dedication lies in providing top-notch services that cater to the individual requirements of our clients, guaranteeing seamless operations and optimal efficiency. We have established ourselves as a reliable partner in the industry thanks to our commitment to quality and client satisfaction.  A wide range of services are provided by the company, including insulation and refractory, blasting and painting, ARC maintenance, erection and fabrication of structural and plumbing elements, electrical and instrumentation work, and NDT (Non-Destructive Testing). In addition to operating at several locations, such as CDU-VDU, DHDS, NHT-CCR, HMU-I & II, CPP, DCU, Rail, and Jetty, RBM Infracon has also worked on ARC maintenance projects at YARA Fertilizers in Babrala and Reliance Industries Ltd (RIL) in Jamnagar.

RBM Infracon Limited bagged a project from ONGC:

The announcement by RBM Infracon that it had secured an order from the Oil and Natural Gas Corporation (ONGC) for Rs 3,498 crore caused the stock price to rise. RBM Infracon stated, “We are pleased to inform you that our company has received a service order from ONGC,” in an exchange filing. Based on a statement from the company, the Rs 3,498 crore order is for gas at Nandej, and Rs 3,371 crore is for crude. 

It further stated that the order is valid for 15 years, or 180 months after the effective date. The business further guarantees that the necessary order will be fulfilled on schedule.

RBM Infracon Limited stock hits 5% upper circuit:

The project that RBM Infracon Limited was able to secure from Oil and Natural Gas Corporation (ONGC) resulted in a 5% increase in the share price of the company today, trading at Rs. 800.

Conclusion: RBM Infracon Limited’s stock has surged by 5% today as a result of the company’s most recent project acquisition from ONGC, which is expected to significantly impact its operations.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.