Kirloskar Oil Engines share price rose in the early trade and extended the gains on third consecutive session on April 3 following the company bagged an order worth Rs 270 crore from Defence Ministry.
At 09:55am, Kirloskar Oil Engines was quoting at Rs 739.20, up Rs 10.00, or 1.37 percent, on the BSE.
"... has received a prestigious order from Ministry of Defence for the design and development of medium speed marine diesel engine of 6MW capacity under the Make-I scheme," company said in its release.
The prototype diesel engine will have an indigenous content of over 50% and will be developed at a cost of Rs 270 crore with 70% funding from the Government of India.
The company will design and develop inhouse, medium speed engines, scalable from 3 MW to 10 MW and the developed engines will be used for Main Propulsion and Power Generation on ships of Indian Navy and Indian Coast Guard.
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The share touched a 52-week high of Rs 1,450.00 and a 52-week low of Rs 544.15 on 02 July, 2024 and 28 February, 2025, respectively.
Currently, the stock is trading 49.71 percent below its 52-week high and 34.01 percent above its 52-week low.
Market capitalisation stands at Rs 10,586.47 crore.
The share price fell 30 percent in the last 3 months.
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