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Linde India's Shares Surge 2% Following SAIL's Oxygen Plant Order

Linde India's Shares Surge 2% Following SAIL's Oxygen Plant Order


Category : Knowledge Center

  • Linde India's Shares Rise: Linde India's stock price increased by 2% on August 25th because the company received a positive response from Steel Authority of India (SAIL) to set up an oxygen plant.
  • Oxygen Plant Setup: Linde India will install a special plant that produces 1,000 tonnes of oxygen per day. This plant will be constructed, operated, and maintained by Linde India for 20 years from when it becomes operational. There is also an option to extend the agreement for five more years.
  • Agreement with SAIL: Linde India got a letter of acceptance from SAIL to build the oxygen plant at SAIL's Rourkela facility. This means SAIL agrees to let Linde India proceed with the project.
  • Similar Deal with IOCL: Linde India also received a job-work contract from Indian Oil Corporation Limited (IOCL) to create an Air Separation Unit (ASU) at the Panipat Refinery Complex. This ASU will provide different types of air and gases needed for IOCL's Panipat Refinery Expansion Project.
  • Long-Term Operation: After completing the construction and testing of the ASU for IOCL, Linde India will operate and maintain it for 20 years starting from the first delivery date.
  • Financial Performance: Linde India's profit fell by around 41.9% in the June quarter, with net profit at Rs 99.88 crore. This indicates the amount of money the company earned during that period.
  • Linde India's Business: Linde India is a company that makes and supplies various gases like oxygen, hydrogen, and nitrogen. They also produce equipment for welding and other industrial uses.

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In simple terms, Linde India's stock went up because they got approval to build important facilities that provide gases for industrial purposes. These facilities will be operated for many years and contribute to the company's business. However, their recent profits had decreased in the previous quarter.


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