Monday , 29 November 2021
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Knowledge Marine & Engineering Works locks upper circuit on getting LoA worth Rs 139.13 crore

Knowledge Marine & Engineering Works locks upper circuit on getting LoA worth Rs 139.13 crore

Knowledge Marine & Engineering Works is currently trading at its upper circuit limit of Rs. 115.15, up by 5.45 points or 4.97% from its previous closing of Rs. 109.70 on the BSE.

Knowledge Marine & Engineering

The scrip opened at Rs. 115.15 and has touched a high and low of Rs. 115.15 and Rs. 115.15 respectively. So far 24000 shares were traded on the counter.

The BSE group ‘M’ stock of face value Rs. 10 has touched a 52 week high of Rs. 115.15 on 17-Nov-2021 and a 52 week low of Rs. 36.30 on 24-Mar-2021.

Last one week high and low of the scrip stood at Rs. 115.15 and Rs. 104.15 respectively. The current market cap of the company is Rs. 117.87 crore.

The promoters holding in the company stood at 73.27% and Non-Institutions held 26.73%.

Knowledge Marine & Engineering Works has received the Letter of Award (LoA) from Ministry of External Affairs, Government of India, for ‘Dredging and providing maintenance for least available depth of 7.9 M on Access Channel and Port basin at Sittwe Port and least available depth of 2M on Kaladan River for Shipping and Navigation in KMTTP, Myanmar’ for a contract value of Rs 139.13 crore.

The project is to be executed within a period of 2 years and 7 months. The project may be extended for further two years at additional cost. The said work is awarded jointly to Knowledge Marine & Engineering Works, Lead Partner, and Sahara Dredging, Another Partner.

Knowledge Marine & Engineering Works is engaged in the business of owning and operating of Marine Crafts for dredging along with repairs and maintenance/refits of Marine Crafts and Marine Infrastructure.