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Shares of Maharashtra Seamless attracted significant buying interest on Friday. This mid-cap stock has risen 37.25 per cent over the last one-month, from Rs 240.65 to Rs 330.30.

Dealers said the prospects for Maharashtra Seamless were good, considering that the demand for seamless pipes, a key product by the company, was expected to grow by 20 per cent per annum due to higher demand from the oil & gas sector, automobiles, boilers etc.

The company also has an order book position of Rs 500 crore. There is also a buzz that the company may acquire a sick billet unit, after it put on hold its billet project in Kalinganagar, Orissa. Compared to an average volume of about 22,543 shares, the counter witnessed volumes of 86,455 shares on the BSE.

Rajesh Abraham

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