Multibagger shipping company has entered into a Bimco Charter Party worth Rs USD 640,000 with Supreme Hydro Engineering Pvt Ltd
The stock gave multibagger returns of over 140 per cent from its 52-week low of Rs 615.80 per share and a whopping 1,050 per cent in a decade.
SEAMEC Limited has recently secured a new charter hire agreement for its vessel, "SEAMEC III." The vessel will be employed by M/s. Supreme Hydro Engineering Pvt Ltd to carry out underwater inspection of FPSO facilities in the Mumbai High Offshore Fields. The charter hire contract, formalized under a BIMCO Charter Party dated September 26, 2024, is initially set for 20 days with a provision for extension by mutual consent. The contract is valued at USD 640,000 for the initial term, exclusive of GST, and is expected to commence around October 10, 2024.
On Friday, shares of Seamec Ltd gained 0.88 per cent to Rs 1,485.70 per share from its previous closing of Rs 1,472.75 per share. The stock’s 52-week high is Rs 1,664 and its 52-week low is Rs 615.80.
SEAMEC Ltd is a diversified marine services company with a focus on offshore operations and bulk carrier transportation. The company owns and operates a fleet of four multi-support vessels, providing diving services, manned and unmanned subsea operations, and related activities. In addition to its offshore operations, SEAMEC Ltd has expanded into the bulk carrier shipping vertical, acquiring three vessels of varying sizes. The company's fleet is primarily engaged in the Indian market. SEAMEC Ltd is a subsidiary of HAL Offshore Limited, a leading provider of underwater services and EPC solutions to the Indian Oil and Gas industry.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
The company has a market cap of Rs 3,745 crore and working capital requirements have reduced from 112 days to 81.1 days. The stock gave multibagger returns of over 140 per cent from its 52-week low of Rs 615.80 per share and a whopping 1,050 per cent in a decade. Investors should keep an eye on this multibagger Small-Cap stock under their radar.
Disclaimer: The article is for informational purposes only and not investment advice.