United Drilling Tools Limited (UDTL), a leading manufacturer of oil drilling tools has announced that its shares are trading on the National Stock Exchange (NSE) effective at the open of markets 25" September, 2020. UDTL's share will trade on the NSE under the ticker symbol "UNIDT".
Commenting on the development, Mr. Pramod Gupta, Chairman & Managing Director, United Drilling Tools Ltd. said, "We are pleased to inform that our Company's shares will also be trading on the NSE from today i.e. 25th of September, 2020, this earmarks one of the credible milestones for UDTL, further this will help grow and strengthen the visibility of UDTL amongst the capital market community. While being a strong leader in domestic geography with ~50% of market share in drilling tools and equipment's for upstream oil and gas exploration, we are also expanding our global footprints by bidding for tailor-made tenders with some global giants in oil and gas sectors. Also, we have been poised to grow with our healthy financial profile that records a 5-year CAGR of 25.8% in Revenue and 27.7% in EBITDA"
The listing of UDTL's Equity shares on NSE will ensure consistency and transparency which will enhance investor's confidence and visibility. Apart from monitoring the explicitness, NSE will entitle the investors with following perquisites;
1. Ensuring a lower impact cost
3. Unprecedented Global Reach
4. Settlement Guarantee
Shares of UNITED DRILLING TOOLS LTD. was last trading in BSE at Rs.236.8 as compared to the previous close of Rs. 231. The total number of shares traded during the day was 50388 in over 475 trades.
The stock hit an intraday high of Rs. 240 and intraday low of 227. The net turnover during the day was Rs. 11853355.