Marine Electricals bags orders worth Rs 12.95 crore

Marine Electricals (India) Limited surged today by 2.1 per cent after bagging orders worth Rs 12.95 crore. 

The first order has been received from Hindustan Shipyard Limited for the supply of MSB package along with APMS, SCD, and DBs, amounting to Rs 8.38 crore. The delivery of the said goods shall be made over a period of 8 months. 

Another order is received from Mazagon Dock Shipbuilders Limited and Garden Reach Shipbuilders & Engineers Ltd for the supply of motorised shore supply cable handling and stowage system, amounting to Rs 4.57 crore. The delivery of these goods is for seven ships and therefore shall be delivered progressively over a period of three years. 

With this order, the company’s current order book now stands at Rs 454.2 crore. The total order book includes the orders of Rs 301.55 crore from the marine segment and Rs 152.7 crore from the industrial segment. 

Marine Electricals is an integrated technical services provider in the fields of electrical automation as well as information & communication technology solutions. 

On Tuesday, the stock of Marine Electricals opened at Rs 70.75 on NSE. At 9.50 am, it surged 2.1 per cent to Rs 71.50 from its previous close of Rs 70.00.