Duke Offshore rises 16% on order win to support dredging operations with MNC

FILE PHOTO - A liquefied natural gas (LNG) carrying vessel sails at Tokyo Bay, offshore of Yokosuka, south of Tokyo, Japan October 22, 2012. REUTERS/Issei Kato/File Photo - RTX2ZAHL

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Shares of Duke Offshore added 16 percent intraday Friday as it has won order to support specialized dredging operations with MNC JV partner at Mumbai Harbour.

The company has been awarded a contract for newly purchased crew boat Duke Express.

The company has recently purchase Duke Express, a brand new high speed crew boat, to support dredging operations and other upcoming infrastructure construction activity in India.

The vessel will operate in Mumbai Harbor to support specialization dredging operations of a multinational dredging corporation joint venture.

The contract will start in early September.

At 09:30 hrs Duke Offshore was quoting at Rs 103, up Rs 8.15, or 8.59 percent on the BSE.

Posted by Rakesh Patil