Linde stock flies: Shares of Linde India surged as much as 6.09 per cent to hit an intraday high of Rs 7,641.60 per share on Thursday, September 5, 2024.
The rise in Linde India share price came after the company announced that it has entered into the Plant Sale agreement with Tata Steel Limited for acquiring their industrial gas supply assets – 2X1800 tpd Air Separation Units (ASUs) at their Kalinganagar Phase 2 expansion project.
Linde India, via an exchange filing said, “Please be informed that the Company has entered into the Plant Sale Agreement with Tata Steel Limited for acquiring 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 annually to Rs 113.7 crore in the quarter ended June 2024 (Q1FY25), as opposed to Rs 99.9 crore during the previous quarter ended June 2023 (Q1FY24). Sales dropped 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 per cent stake in the company, specialises in the production of industrial and medical gases as well as the construction of both cryogenic and non-cryogenic air separation plants.
The company’s operations are segmented into three main areas including Gas and Related Products, Healthcare, and Project Engineering.
The Gas and Related Products segment provides pipeline gas supplies to major industrial clients such as the primary steel, glass, and chemical sectors, along with liquefied gases delivered via cryogenic tankers for diverse industrial needs, and compressed gases in cylinders for smaller-scale requirements in fabrication, manufacturing, and construction.
In the Healthcare sector, Linde India offers high-quality medical gases, including oxygen, synthetic air, and nitrous oxide, as well as advanced medical gas distribution systems for prominent hospitals.
The Project Engineering Division (PED) focuses on the design, engineering, supply, installation, testing, and commissioning of air separation plants and related projects on a turnkey basis.
The company operates 14 manufacturing units across various states including Karnataka, Telangana, Gujarat, Haryana, Rajasthan, Odisha, Jharkhand, West Bengal, Maharashtra, Uttarakhand, and Tamil Nadu.
Notably, Linde India undertook the refurbishment of a 1290 TPD air separation unit at Jamshedpur during this period. Its clientele features major industry players such as HPCL, IOCL, BPCL, ONGC, GAIL, and MRPL among others.
The market capitalisation of Linde India is Rs 63,963 crore, according to Bombay Stock Exchange (BSE).
The 52-week high of Linde India share is Rs 9,909 per share while its 52-week low is Rs 5,320 per share.
At 9:41 AM, shares of Linde India were trading 4.13 per cent higher at Rs 7,500 per share. In comparison, BSE Sensex was trading 0.02 per cent higher at 82,368.89 levels.
First Published: Sep 05 2024 | 9:45 AM IST
