Sealmatic India shares were locked at 20% upper circuit on February 7 after the mechanical seals maker announced receiving approval from the Abu Dhabi National Oil Company (ADNOC).

Shares of the BSE-registered Sealmatic India Ltd opened slightly higher but later hit the upper circuit level in the last couple of trading hours. The stock closed 20% higher at Rs 745.65. 

Sealmatic said in an exchange filing that it is poised to potentially secure a slice from ADNOC’s forthcoming oil and gas projects with a total budget of $150 billion over the next five years. 

The company’s press release read, “this prestigious certification not only validates Sealmatic’s commitment to quality and reliability but also serves as a gateway to one of the most prominent players in the global oil industry”.

The company expects the ADNOC approval to open doors to new opportunities in the Gulf Cooperation Council (GCC) market.

Headquartered in Abu Dhabi, ADNOC was established in 1971 and has since evolved into one of the world’s leading energy companies. It stands as a foundation of the oil and gas sector of the United Arab Emirates (UAE).  

Sealmatic India Ltd was incorporated in 2009 and designs and manufactures mechanical seals, seal supply systems and associated products.