India's Knowledge Marine wins $29 million order from Mumbai Port Authority
Shares of Knowledge Marine and Engineering Works rose as much as 5.3% to 3,038 rupees after the marine engineering company received a 2.79 billion rupees ($29.13 million) work order from Mumbai Port Authority. The contract is for the construction, hiring, operations, and maintenance of a battery-operated electric tug for 15 years.
3% to 3,038 rupees, putting the stock on course for its biggest intraday percentage gain since March 10. 13 million) work order from the Mumbai Port Authority for a battery-operated electric tug. The contract covers construction and hiring of the tug, as well as operations and maintenance, for 15 years. Knowledge Marine said the deal is its third green tug contract and will help it broaden its business beyond dredging into shipbuilding and long-term marine asset management.
92% year to date. 7700 Indian rupees)