Shares of Linde India Ltd. surged by 6% to a day’s high of Rs 7,640 on 5th September after the company entered into an agreement with Tata Steel to acquire industrial gas supply assets at their Kalinganagar Phase 2 expansion project. This deal includes two 1,800 tpd Air Separation Units (ASUs).

Tata Steel selected the former company as the successful bidder to own and operate the gas supply infrastructure at its Kalinganagar plant for the next 20 years. The company will take over the two air separation units currently under construction, which will be funded internally.

In the June quarter, the company reported a 13.8% year-on-year increase in net profit to Rs 113.7 crore, up from Rs 99.9 crore in Q1 FY24.

Sales fell by 9.4% year-over-year to Rs 653.2 crore, down from Rs 721 crore.

Linde India, a company that makes industrial and medical gases, is owned by the BOC Group UK, which has a 75% share. It also builds air separation plants, both cryogenic and non-cryogenic. The business works in three key areas: gases and related items, healthcare, and project engineering.

The stock of Linde India has surged over 33% year-to-date, compared to a 16% increase in the benchmark index Nifty 50.

The company’s market capitalisation rose to Rs 64,132 crore.

At 12:03 PM, the shares of Linde India were trading 4.28% higher at Rs 7,510.65 on NSE.

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