Pipavav Defence surges on receiving new order worth Rs 1795 crore

22 May 2013

Pipavav Defence and Offshore Engineering Company is currently trading at Rs. 70.60, up by 1.20 points or 1.73% from its previous closing of Rs. 69.40 on the BSE.

The scrip opened at Rs. 69.50 and has touched a high and low of Rs. 72.00 and Rs. 69.15 respectively. So far 166690 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 98.35 on 13-Dec-2012 and a 52 week low of Rs. 52.65 on 27-Jul-2012.

Last one week high and low of the scrip stood at Rs. 72.00 and Rs. 68.10 respectively. The current market cap of the company is Rs. 4935.63 crore.

The promoters holding in the company stood at 45.63%, while Institutions and Non-Institutions held 19.39% and 34.97% respectively.

Pipavav Defence and Offshore Engineering Company received new order worth Rs 595 crore with option to supply two more specialized offshore ships valued at Rs. 1200 crore from a European client. Overall global market's need for similar specialized offshore ships is nearly USD 10 BN per year. 

Its offshore division is constantly increasing the clientele in the global market due to significant development .The company intends to increase its market share in the offshore segment substantially over the next four quarters.

Pipavav Defence and Offshore Engineering Company is engaged in defence, offshore, marine and engineering sectors. The company has two units, one special economic zone (SEZ) unit spread over around 95 hectares of land and another export oriented unit (EOU) spread over around 103.92 hectares of land.

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