Pipavav Defence and offshore Engineering Company is currently trading at Rs 63.45, up by 0.85 points or 1.36% from its previous closing of Rs 62.60 on the BSE.
The scrip opened at Rs 64.00 and has touched a high and low of Rs 64.30 and Rs 62.50 respectively. So far 101577 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 92.60 on 13-Sep-2011 and a 52 week low of Rs 50.65 on 21-Nov-2011.
Last one week high and low of the scrip stood at Rs 64.30 and Rs 54.05 respectively. The current market cap of the company is Rs 4368.37 crore.
The promoters holding in the company stood at 43.34% while Institutions and Non-Institutions held 22.34% and 34.32% respectively.
Pipavav Defence and Offshore Engineering Company (Pipavav Defence) has secured a prestigious order to build two numbers of Offshore Patrol Vessels (OPVs) for the West African Client. The contract value is pegged at Rs 1,192 crore along with two option ships, which can be exercised by the client within 24 months upon which the contract value may go up to Rs 2,504 crore.
Both the ships are to be delivered in 32 months including option ships, if exercised. It is a 95 meter long vessel and very similar to five numbers of Indian Navy contract the company had received last year from Ministry of Defence. This is the first international major naval segment (foreign military sales) contract.
Besides, the company is negotiating for four numbers corvette type warships with a global major. One of the thrust areas of the company is to focus on foreign military sales to the friendly countries.
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