Linde gains 6% on buying Tata Steel's industrial gas assets in Kalinganagar

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Linde gains 6% on buying Tata Steel's industrial gas assets in Kalinganagar - Business Standard

Quick Summary:

Linde India share price rose after the company announced that it has entered into the Plant Sale agreement with Tata Steel Limited for acquiring their Kalinganagar industrial gas supply assets.

Notably, Linde India undertook the refurbishment of a 1290 TPD air separation unit at Jamshedpur during this period.

Financially, the company’s net profit rose 13.8 per cent annually to Rs 113.7 crore in the quarter ended June 2024 (Q1FY25), as opposed to Rs 99.9 crore during the previous quarter ended June 2023 (Q1FY24).Sales dropped 9.4 per cent to Rs 653.2 crore in Q1FY25, as against Rs 721 crore in Q1FY24.