Swan Energy Ltd. (SEL) saw a 3% jump in its stock price following the announcement of the resumption of operations at its shipyard, Reliance Naval and Engineering Ltd. (RNEL).
A major milestone was achieved with the successful completion of the Indian Coast Guard’s fast patrol vessel, Raj Ratan, ahead of schedule. The refit project, which began on September 4, 2024, was finished on November 30, 2024, in collaboration with Sadhav Offshore Engineering Pvt. Ltd.
The comprehensive overhaul included dry docking, berthing, and vital yard services, ensuring the vessel’s optimal performance. This achievement underscores Swan Energy’s commitment to revitalizing the shipyard, which will soon resume shipbuilding operations. Earlier this year, SEL took management control of RNEL through NCLT, marking a new era for the facility.
As of 11:52 am, Swan Energy stocks were trading 3.88% higher at Rs 634.65 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Ahmedabad Plane Crash