Pipavav Defence gains on emerging as lowest bidder for Rs 221 crore worth order

13 Jan 2014

Pipavav Defence and Offshore Engineering Company is currently trading at Rs. 45.35, up by 0.40 points or 0.89 % from its previous closing of Rs. 44.95 on the BSE.

The scrip opened at Rs. 45.30 and has touched a high and low of Rs. 46.15 and Rs. 45.25 respectively. So far 29746 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 91.75 on 01-Feb-2013 and a 52 week low of Rs. 38.80 on 17-Dec-2013.

Last one week high and low of the scrip stood at Rs. 46.80 and Rs. 44.30 respectively. The current market cap of the company is Rs. 3349.74 crore.

The promoters holding in the company stood at 44.52 % while Institutions and Non-Institutions held 17.70 % and 37.78 % respectively.

Pipavav Defence and Offshore Engineering Company has been declared lowest bidder by the Indian Coast Guard, Ministry of Defence, Government of India, for construction of one Training Ship under ‘Buy Indian’ category on a competitive basis. The value of the order would be approximately Rs 221 crore.

Training Ship is intended to provide basic sea training to all Coast Guard personnel and is one of its kind having integral helicopter, capable of operations in all maritime zones of India.

This is consecutive second prestigious recognition by the Indian Coast Guard, Ministry of Defence, Government of India (GoI) after the company was declared as the lowest bidder for design and construction of fourteen Fast Patrol Vessels for approximately Rs 920 crore.

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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