BOC India shoots on Tata Steel order

A member of Linde Group, BOC India Ltd (BOM: 523457) today gained momentum on the Bombay Stock Exchange (BSE) as the company received a prestigious order from Tata Steel for supply of 4000 tonnes per day of gaseous oxygen, nitrogen and argon.

The company stocks surged by close to 4.5% at Rs.177 in the afternoon trades on BSE today. The stock hit a high of Rs.181.85 and a low of Rs.170.25 so far during the day.

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BOC India had in August 2009 signed a pact with JSL for installation of an air separation unit at JSL's plant in Orissa on a hire basis.

The company announced the new order win during trading hours today, 23 October 2009. BOC India's net profit fell 42.6% to Rs.9.72 crore on 56.5% rise in net sales to Rs.213.08 crore in Q2 June 2009 over Q2 June 2008. The company will declare its Q3 September 2009 results on 27 October 2009.

BOC India, formerly known as Indian Oxygen, has two divisions namely the gases division and the project engineering division. The gases division contributes majority of the turnover.
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