FIIs bought 9,85,236 shares: Marine company bags new orders worth Rs 9,94,00,000 from Cochin Shipyard Ltd
The stock is up by 91.10 per cent from its 52-week low of Rs 85.70 per share.
Marine Electricals (India) Limited has received an order amounting to Rs 09.94 crore (excluding taxes) from Cochin Shipyard Limited for the NGMV project. The delivery shall be over four years.
Earlier, Danfoss India and Marine Electricals (India) Limited have forged a strategic partnership, designating Marine Electricals as the official partner and system integrator for Danfoss Marine Products and Solutions, to accelerate the electrification of India's maritime sector and bolster its defence capabilities. Building upon a decade of prior collaboration, this alliance leverages Marine Electricals' expertise in electrical and automation solutions to drive energy efficiency and sustainability, aligning with India's ambitious maritime development goals, which include a Rs 25,000 crore Maritime Development Fund and a vision to handle 20% of global cargo by 2047, ultimately transforming India into a global maritime hub.
About the Company
Marine Electricals (India) Limited is a leading provider of electrical automation and information technology solutions for the marine and industrial sectors. With over 40 years of experience, the company offers a comprehensive range of products and services, including switchgear, control gears, integrated platform management systems, power generation and distribution, marine lights, motors, NavCom solutions and low and medium-voltage power distribution solutions for various industries. Marine Electricals is committed to providing high-quality, reliable and innovative solutions while supporting the 'Make in India' initiative.
The company has a market cap of Rs 2,175 crore. In December 2024, FIIs bought 9,85,236 shares and increased their stake to 0.96 per cent compared to 0.25 per cent in September 2024. The stock is up by 91.10 per cent from its 52-week low of Rs 85.70 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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