Multibagger Stock: This shipping company receives a major contract worth Rs 47.02 crore!

Shares of the company have gained about 70 per cent in the last six months.

On March 20, 2023, Knowledge Marine & Engineering Works Limited (KMEW) informed in the exchange filing that the company received with RKEC Projects Limited on March 20, 2023, for the work of development of fishery harbour at Veraval, Gir Somnath of Gujarat Maritime Board (GMB) for an amount of Rs. 47.02 crores for 30 months. The project is being developed under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

The scope of work includes the dredging of inner and outer harbour areas for removal of all types of soft soil such as sand, silt, clay etc, and the removal of hard strata such as gravel, weathered rock, boulders to improve navigation in the area.

Knowledge Marine & Engineering Works Ltd is primarily engaged in the business of owning, operating and technical maintenance of marine crafts and maintenance of marine crafts and marine infrastructure and allied works in India.

Today, the stock opened at Rs 1025, with a high and low of Rs 1025 and Rs 995. The stock closed trading at Rs 1000, down by 0.13 per cent over its previous close of Rs 1001.35. 

The stock has a 52-week high of Rs 1450 and a 52-week low of Rs 156.15. Knowledge Marine & Engineering Works Limited has delivered multibagger returns to its shareholders with over 500 per cent returns in just 1 year.