Multibagger defence stock jumps after company bags new orders worth Rs 24.74 crore for power distribution system
The stock is up by 130 per cent from its 52-week low of Rs 93.70 per share.
The share price of Marine Electricals Limited jumped over 6 per cent on Tuesday as the company received a significant work order. The stock has jumped to its intraday high of Rs 207.45 per share with a rising volume of 6,77,000 as of 12:34 pm IST.
Marine Electricals (India) Limited has received an order amounting to Rs. 24.74 crore (excluding taxes) from Digital Edge DC (India) Private Limited for the Supply, Installation, Testing and Commissioning of Power Distribution System for the BOM1 project. The Delivery shall be over a period of 4 months.
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About 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 2,864 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. But In March 2025, the stock the FIIs holding dropped significantly to 0.15 per cent. The stock is up by 130 per cent from its 52-week low of Rs 93.70 per share.
Disclaimer: The article is for informational purposes only and not investment advice.