Knowledge Marine & Engineering Works jumps on acquiring new vessel
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Knowledge Marine & Engineering Works is currently trading at Rs. 600.00, up by 15.10 points or 2.58% from its previous closing of Rs. 584.90 on the BSE.
The scrip opened at Rs. 580.00 and has touched a high and low of Rs. 600.00 and Rs. 565.00 respectively. So far 0.54 lakh shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 600.00 on 02-Sep-2022 and a 52 week low of Rs. 41.80 on 07-Oct-2021.
Last one week high and low of the scrip stood at Rs. 600.00 and Rs. 522.00 respectively. The current market cap of the company is Rs. 579.41 crore.
The promoters holding in the company stood at 73.27%, while Non-Institutions held 26.73% stake in the company.
Knowledge Marine & Engineering has inked sale and purchase agreement with Abnco Vie Win Ent for the acquisition of a new vessel ‘Dumb Barge with Spuds D.B. Abnco I’. This vessel has been acquired for a total consideration of Rs 2.25 crore. The vessel was built in 2010 and is being modified and retrofitted to the requirements and specifications of the work. The company anticipates that the vessel will be deployed in the near term at the Mangrol Fishing Harbour, Gujarat, for Capital Rock Dredging Work.
Knowledge Marine & Engineering Works is engaged in the business of owning and operating of Marine Crafts for dredging along with repairs and maintenance/refits of Marine Crafts and Marine Infrastructure.
