Linde shares fly: Shares of Linde India rose as much as 6.09 percent to hit an intraday high of Rs 7,641.60 per share on Thursday, September 5, 2024.
Linde India share price rose after the company announced that it has entered into a Plant Sale Agreement with Tata Steel Limited for the acquisition of their industrial gas supply assets: 2X1800 tpd Air Separation Units (ASUs) at their Kalinganagar Phase 2 expansion project.
Linde India said in a stock exchange filing: “We inform you that the Company has entered into a Plant Sale Agreement with Tata Steel Limited for the acquisition of their industrial gas supply assets – 2X1800 tpd Air Separation Units (ASUs) at their Kalinganagar Phase 2 expansion project.”
Financially, the company’s net profit rose 13.8 per cent year-on-year to Rs 113.7 crore in the quarter ended June 2024 (Q1FY25), as against Rs 99.9 crore in the previous quarter ended June 2023 (Q1FY24). Revenue declined 9.4 per cent to Rs 653.2 crore in Q1FY25, as against Rs 721 crore in Q1FY24.
Linde India Limited, a subsidiary of BOC Group UK, which holds a 75 percent stake in the company, specializes in the production of industrial and medical gases and the construction of both cryogenic and non-cryogenic air separation plants.
The company’s activities are divided into three main areas: gas and related products, healthcare and project engineering.
The Gas and Related Products segment supplies pipeline gas to large industrial customers, such as the steel, glass and chemical industries. In addition, liquefied gases are supplied via cryogenic tankers for a variety of industrial needs and compressed gases in cylinders for smaller-scale requirements in manufacturing and construction.
In the healthcare sector, Linde India supplies high-quality medical gases including oxygen, synthetic air and nitrous oxide, as well as advanced medical gas distribution systems to leading hospitals.
The Project Engineering (PED) department focuses on the design, engineering, supply, installation, testing and commissioning of air separation plants and related projects on a turnkey basis.
The company has 14 manufacturing facilities across various states including Karnataka, Telangana, Gujarat, Haryana, Rajasthan, Odisha, Jharkhand, West Bengal, Maharashtra, Uttarakhand and Tamil Nadu.
Linde India has during this period mainly carried out the refurbishment of a 1290 TPD air separation unit in Jamshedpur. The clientele includes major players in the industry such as HPCL, IOCL, BPCL, ONGC, GAIL and MRPL.
According to the Bombay Stock Exchange (BSE), Linde India’s market capitalization is Rs 63,963 crore.
Linde India’s high price in the last 52 weeks is Rs 9,909 per share, while its low price in the last 52 weeks is Rs 5,320 per share.
At 9:41 AM, shares of Linde India were trading 4.13 percent higher at Rs 7,500 per share. In comparison, BSE Sensex was trading 0.02 percent higher at 82,368.89 levels.
First publication: 05 Sep 2024 | 09:45 AM IST