Shares of Swan Energy have tested highs last seen in August, rising over 13% in trade on December 4, a day after the company said its shipyard has resumed operations and repaired a Coast Guard vessel.
Swan Energy is a diversified business group that began as a textile company and then ventured into LNG storage projects as well as real estate. The company recently ventured into defence and shipyard businesses through acquisition of Reliance Naval and Veritas India.
With the resumption of its shipyard operations, Swan said it has completed its first repair project of a Coast Guard patrol vessel ahead of schedule, providing end-to-end services. Going forward, Swan’s shipyard said it will also take up shipbuilding operations at the facility.
Swan Energy's shipyard claims to be the largest dry dock in India, and one of the largest in the world.
Vivek Merchant, Director of Swan’s Shipyard said the company is preparing to ramp up ship repair and shipbuilding capabilities. "Our vision is to establish our shipyard as a leading maritime hub for the manufacturing of defence and commercial ships, and for the heavy engineering sector, on a global scale," he added.
Swan Energy's consolidated revenue for FY23 was Rs 1,438.14 crore. The company has a market capitalisation of over Rs 21,000 crore, and the share price has risen 64% in the last one year.
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