Shares of Seamec declined around 3% on Friday, trading at Rs 1,379 during the session, even after the company announced a fresh order win from Oil and Natural Gas Corporation (ONGC).
The company, in collaboration with Supreme Hydro Pvt Ltd, has secured a contract worth approximately Rs 329.92 crore (inclusive of GST) for the operation and maintenance of MSV ‘Samudra Prabha’. The contract is set to commence within 60 days from the Notification of Award dated March 26, 2026.
The project will be executed over a period of 698 days, marking a significant addition to Seamec’s domestic order book. The company also clarified that the contract does not involve any related party transactions.
Despite the order announcement, the stock witnessed selling pressure during Friday’s session. The decline comes amid broader market weakness and profit booking, even as the order provides revenue visibility over the medium term.
During the session, the stock traded in the range of Rs 1,365.20 to Rs 1,463.90, compared to its previous close of Rs 1,421.60.
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