Knowledge Marine trade jubilantly on receiving additional work order of Rs 16.50 crore from DCI

Knowledge Marine is currently trading at Rs. 1121.00, up by 104.30 points or 10.26% from its previous closing of Rs. 1016.70 on the BSE.

Knowledge Marine
Knowledge Marine

The scrip opened at Rs. 1045.00 and has touched a high and low of Rs. 1113.95 and Rs. 1045.00 respectively. So far 18500 shares were traded on the counter.

The BSE group ‘M’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1125.00 on 19-Dec-2022 and a 52 week low of Rs. 134.55 on 09-Mar-2022.

Last one week high and low of the scrip stood at Rs. 1125.00 and Rs. 920.05 respectively. The current market cap of the company is Rs. 1091.26 crore.

The promoters holding in the company stood at 72.30%, while Institutions and Non-Institutions held 0.09% and 27.62% respectively.

Knowledge Marine & Engineering Works (KMEW) has received an additional work order of Rs 16.50 crore from Dredging Corporation of India (DCI) under the original contract. The company had received one-year dredging contract worth Rs 67.85 crore from DCI for its Mangrol Fishing Harbour facility in May, 2022 for capital dredging in hard rock. The ongoing work is 50% complete.

The additional work order increases the target estimated dredging quantity from 110,150 Cubic Meters to 136,937 Cubic Meters which is an increase of 24% in the original work order. The additional dredging work will be carried out at the same rates, terms and conditions of the original contract. KMEW is fully equipped to execute the additional work with the equipment present at Mangrol Site.

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.

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