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Knowledge Marine & Engineering Works is currently trading at Rs. 1755.00, up by 64.60 points or 3.82% from its previous closing of Rs. 1690.40 on the BSE.

The scrip opened at Rs. 1655.00 and has touched a high and low of Rs. 1765.00 and Rs. 1640.00 respectively. So far 35375 shares were traded on the counter.

The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 1770.00 on 24-Aug-2023 and a 52 week low of Rs. 497.00 on 29-Aug-2022.

Last one week high and low of the scrip stood at Rs. 1770.00 and Rs. 1346.30 respectively. The current market cap of the company is Rs. 1879.37 crore.

The promoters holding in the company stood at 67.09%, while Institutions and Non-Institutions held 0.58% and 32.33% respectively.

Knowledge Marine & Engineering Works’ subsidiary -- Knowledge Dredging has received a Letter of Intent (LOI) from Eastern Asphalt & Mixed Concrete for the supply of dredged marine sand in Bahrain. This notable contract carries a substantial value of 1.87 Million Bahrani Dinar (approximately equivalent to Rs 41.51 crore, using an exchange rate of 1 BD = Rs 221.40) and spans a tenure of 5 years. Set to commence during the third quarter of the fiscal year 2023-2024.

This will be company’s fifth LOI in line for supply of dredged marine sand in Bahrain. By successfully securing five contracts for the supply of dredged marine sand, the company has generated a cumulative LOI value of approximately Rs 383 crore for the next five years. This achievement serves as a testament to the robust demand within the Bahraini economy, driven by a notable upswing in both real estate activities and associated infrastructure development.

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.