Swan Energy climbs on taking management control of Reliance Naval
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Swan Energy is currently trading at Rs. 537.00, up by 11.10 points or 2.11% from its previous closing of Rs. 525.90 on the BSE.
The scrip opened at Rs. 536.00 and has touched a high and low of Rs. 543.00 and Rs. 531.85 respectively. So far 217791 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 543.00 on 05-Jan-2024 and a 52 week low of Rs. 193.00 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 543.00 and Rs. 496.60 respectively. The current market cap of the company is Rs. 14070.73 crore.
The promoters holding in the company stood at 64.09%, while Institutions and Non-Institutions held 20.47% and 15.45% respectively.
Swan Energy has formally taken the management control of Reliance Naval & Engineering. The company had emerged as the winning bidder under an insolvency resolution process.
The National Company Law Tribunal-appointed monitoring committee has handed over the management control of the company with the approval of the committee of creditors to Swan Energy. The acquisition of Reliance Naval marks the company's entry into the shipbuilding, ship repairing and heavy fabrication industry.
Swan Energy is engaged in the business of Real Estate, Textile and Energy.
