Sealmatic India’s shares rose nearly 15% during trading hours on February 14 after the mechanical seals manufacturer announced receiving a certification from Russia to supply seal systems to the oil and gas industry. 

Sealmatic’s shares hit an intraday high of Rs 860, 14.96% higher than its previous closing price on the Bombay Stock Exchange (BSE). The stock closed 11.75% higher at Rs 837.95. 

Sealmatic India informed the BSE in a filing on Wednesday that it had received Russian certification TRCU 10 and TRCU 32 for API (682) plans. The certification will allow the company to expand its business in the Russian market. 

The Technical Regulations of the Customs Union (TRCU) are a set of mandatory requirements to ensure the safety, quality and conformity of products within the Eurasian Economic Union (EAEU). Supplies cannot be made to the Russian Oil and Gas sector without the TRCU 10 and TRCU 32 Certification. 

Russia is one of the world’s top three crude producers, and several oil and gas companies in the country have invested up to $55 billion into new projects for the next three years. 

Sealmatic India Ltd is a designer and manufacturer of mechanical seals and associated products that are used across several industries and operates in over 45 countries worldwide.