Shares of the company gained about 90% in the last six months.
Indian mechanical seal manufacturer Sealmatic India Limited has partnered with the UAE’s Habshan Trading Company to sell, repair, and refurbish Sealmatic mechanical seals in Abu Dhabi.
This partnership will serve customers in the oil and gas, petrochemical, power, water, desalination, chemical, and other process industries. By partnering with Habshan, a company with a strong local presence and a deep understanding of the region’s industries, Sealmatic aims to cater to the varied needs of customers in the UAE by offering its global standards of excellence.
Sealmatic has tremendous global experience with great success in supplying high-performance mechanical seals to the oil & gas, power generation, and water sectors. The partnership between Sealmatic and Habshan heralds a new chapter in the field of mechanical seals in the UAE region. It is a synergy of global expertise and local insight, driven by a commitment to excellence and customer satisfaction.
The mechanical seals market in UAE currently has a market size of USD 60 million.
The partnership between Sealmatic and Habshan is a positive development for both companies and for the UAE market. Sealmatic will be able to expand its reach and market share, while Habshan will be able to offer its customers a wider range of products and services. The partnership will also help to create jobs and boost the UAE economy.
Earlier last month, the company entered into a partnership with PSS Group in Thailand for repair, refurbishment services, and engineering applications support centre for mechanical seals in Thailand to services to customers in the oil and gas, petrochemical, power, water, desalination, chemical, and other industries.
Sealmatic India is engaged in the business of designing and manufacturing mechanical seals and associated products. Mechanical seals are mainly used in Oil & Gas, refinery, petrochemical, chemical, pharmaceutical, fertilizer, power, mining, pulp & paper, aerospace, marine, and other industries.
Today, the stock opened at Rs 490.25, with a high and low of Rs 510 and Rs 482.05. The stock is closed trading at Rs 483, down by 1.48%. The stock has a 52-week high of Rs 669 and a 52-week low of Rs 200.
In the last six months, the shares of the company have given about 90% returns, and investors should keep a close eye on this stock.
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