Linde India shares gained during the early trade session of 28 August after the company received a Letter of Acceptance from SAIL (Steel Authority of India) to install a cryogenic oxygen plant. 

The plant will have a capacity of 1,000 tonnes per day capacity and will be installed on a construct, operate and maintain basis for 20 years from the date of commissioning of the plant and ancillary facilities; the contract will have a provision to further renew for five years on a mutual agreement basis at the SAIL plant in Rourkela. 

Earlier this month, on 22 August, the company received a Letter of Acceptance from Indian Oil Corporation Ltd (IOCL) for setting up an Air Separation Unit on a site licensed by IOCL within its Panipat Refinery Complex as a job-work contract. 

Upon completing the construction and the performance test of the Air Separation Unit, the company will enter into the requisite agreement with IOCL for operating and maintaining the facility for 20 years. 

Linde India manufactures welding electrodes, fluxes, rods, gas and electric welding equipment along with liquid oxygen explosives. 

The company produces and distributes hydrogen, oxygen, nitrogen, argon, and other speciality gas mixtures.

During its April-June quarterly report, the company’s net profit declined by 41.9% to Rs 99.88 crore. 

At 10:55 am, the shares of Linde India were trading at Rs 6,014.25 or 1.65% above its previous close on BSE.