Seamec surges on entering into Charter Party with Leighton India Contractors for ‘SEAMEC III’

05 Sep 2014

Seamec is currently trading at Rs. 147.05, up by 1.65 points or 1.13% from its previous closing of Rs. 145.40 on the BSE.

The scrip opened at Rs. 147.00 and has touched a high and low of Rs. 150.00 and Rs. 146.25 respectively. So far 16834 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 152.95 on 01-Sep-2014 and a 52 week low of Rs. 41.00 on 23-Sep-2013.

Last one week high and low of the scrip stood at Rs. 152.95 and Rs. 137.00 respectively. The current market cap of the company is Rs. 502.40 crore.

The promoters holding in the company stood at 51.00% while Institutions and Non-Institutions held 2.37 % and 46.63% respectively.

Seamec has entered into a Charter Party with Leighton India Contractors on September 02, 2014 for charter hire of the vessel ‘SEAMEC III’ for a firm period of 145 days with an option for extension. The total contract value for the firm period would be around Rs 54.30 crore approximately.

The Charter Hire is likely to commence around November 10, 2014. The area of operation of the vessel will be West Coast of India (Mumbai) for ONGC project.

Seamec is engaged in the business of operating multi-support vessels for diving and for providing underwater/sub-sea engineering services, deep sea diving, and inspection of underwater structures, repairs and maintenance of offshore platform fire-fighting services and rescue operations.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323