Shares of Kirloskar Oil Engines Ltd jumped 6% after the Indian Navy signed a Project Sanction Order with the company for the design and development of a 6MW Medium Speed Marine Diesel Engine under the Make-I category.
The agreement, signed in the presence of Secretary (Defence Production) Sanjeev Kumar and Vice Admiral Krishna Swaminathan, marks a major step toward indigenizing marine engine technology.
Key Highlights:
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Project Value: ₹270 crore
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Indigenous Content: Over 50%
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Govt. Funding: 70% of total cost
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Usage: Main propulsion & power generation for Indian Navy & Coast Guard
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Future Scope: Design for 3-10MW diesel engines
Currently, higher-capacity marine diesel engines are largely imported. This initiative aligns with the government’s Aatmanirbhar Bharat mission, reducing foreign dependence while bolstering India’s defence manufacturing ecosystem.
Kirloskar Oil Engines’ shares opened at ₹730 and surged to ₹776 during intraday trade. The stock’s 52-week high stands at ₹1,450, while the low is ₹544.40.
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