Last Updated: August 23, 2023, 13:06 IST
Linde India shares scaled a fresh high of Rs 6,075.05, as they gained 5 per cent on the BSE in Wednesday’s intra-day trade after winning a Letter of Acceptance’ from the Indian Oil Corporation (IOCL) for setting-up of Air Separation Unit (ASU) within its Panipat Refinery Complex. Linde India expects to fund the capital expenditure from its own funds/internal accruals.
On completion of the construction and the performance test of the aforesaid ASU, Linde India will enter into the requisite agreements with IOCL for operating and maintaining the facility for a period of 20 years from the first delivery date. Linde India expects to fund the capital expenditure with its own funds and internal accruals, the press release added.
Shares of Linde India were listed on bourses on June 16, 1999. The stock of industrial gas company has surged 16 per cent in past two trading days. In comparison, the S&P BSE Sensex was down 0.07 per cent at 65,176 at 09:30 AM.
Meanwhile, thus far in the calendar year 2023, the stock price of Linde India has zoomed 70 per cent, as compared to 6.6 per cent rise in the S&P BSE Sensex.
In the past 12 months (between August 23, 2022, and August 23, 2023), the stock has rallied nearly 86 per cent, Trendlyne data show.
Linde India is one of the leading global industrial gas and engineering companies. The company claims that in 2022, its sales stood at $33 billion. It provides high-quality solutions, technologies, and services to its clients and customers and helps sustain, decarbonise, and protect planet Earth, as per the company’s website.