Mumbai-headquartered Everest Kanto Cylinder has notified that the company has successfully picked an order from Pakistan and Middle East Countries, for the supply of CNG cylinders.

The company has secured the order, which is valued at more than $13 million, through its Dubai-based subsidiary ‘EKC International FZE’.

Yesterday, the company has announced that Spinning Machines for Ultra Large Pressure Vessels (Jumbo Cylinders) at its Gandhidham unit have been commissioned.

Everest Kanto Cylinders (EKC) is India’s largest producer of high-pressure seamless cylinders for industrial and automotive applications. The company has five manufacturing unit located across India, Dubai and China, with a total installed capacity of 0.8 million cylinders per annum (cpa).

Long-term investors can consider taking position the scrip at present level by considering EKC’s leading position in the industry and aggressive expansion plans, which could generate significant revenue and good margins in coming years.
The counter looks strong on the charts and the investors, who want to play for short-term duration, can look for a target of Rs 350 levels in the days ahead.