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United Drilling Tools Wins ₹1.08 Billion ONGC Contract, Strengthens Oilfield Equipment Portfolio

Updated: June 16, 2025 12:08

Image Source: The Economic Times

United Drilling Tools Ltd. (UDTL) has won a big order of ₹1.08 billion from ONGC to supply multi-start connector large OD casing pipes. The order further consolidates UDTL's leadership in oilfield equipment manufacturing, offering improved drilling solutions to India's energy sector.

Key Highlights:

₹1.08 billion ONGC deal, with focus on giant OD casing pipes.
UDTL's ability to multi-start the connector improves drilling efficiency and lifespan.
Business assured to deliver the order within six months, which would guarantee timely delivery.
The shares increased by 4% after the announcement, indicating investor confidence.
UDTL's topline grew 55.62% YoY on account of strong demand for oilfield equipment.

This strategic alliance consolidates UDTL's market standing, reaffirming its commitment to innovation and excellence for oilfield solutions.

Source: Investing.com | ProjectX India | MarketScreener

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