The action of this maritime transport SME has zoomed in by 68% in three days

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Knowledge Marine & Engineering Works (KMEW) shares were stuck in the upper circuit 20 percent at Rs 70.55 on BSE during Tuesday’s session due to large volumes. The shipping company’s stock has risen 68% in the last three trading days from the level of Rs 41.90 on October 7, 2021.

As of 10:55 a.m., around 1.25 million shares or 12.25 percent of KMEW’s total shares have changed hands on BSE. There were pending buy orders for 447,000 shares on BSE, according to exchange data.

KMEW announced today that the company has been declared the lowest bidder (L1) by the Visakhapatnam Port Trust for the tender for the supply, crew, operation of a large patrol boat speed with a speed of 15 knots rented for a period of three years and extendable for two additional years.

The company further stated that it was the only technically qualified and lowest bidder in a tender invited by the Ministry of Foreign Affairs for the next contract of “dredging and maintenance for the minimum available depth of 7, 9M on the access channel and harbor basin at Sittwe Port and minimum available depth of 2M on the Kaladan River for shipping and navigation in KMTTP, Myanmar ”for a period of 2.5 years.

KMEW debuted on March 22, 2021. The company awarded shares at an issue price of Rs 37% as part of the initial public offering (IPO).

KMEW was incorporated in 2015 with the vision of owning and operating marine craft for the Indian government and private actors. The company has an approximate asset value of around Rs 30 crore and an order book of over Rs 100 crore. Since 2015, the company has increased its fleet from 1 to 7 watercraft (including one owned by its associated company), the company said in the FY21 annual report.

Regarding the outlook for the future, KMEW said that India’s dredging industry is poised to experience strong growth in the next few years as the government comes up with various policies, programs, programs, etc. to stimulate Indian shipping and dredging companies. With an increase in e-commerce and transport activities resulting in high traffic, both major and minor ports are constantly eager to improve their current capacity, which in turn creates opportunities for dredging as well as for small artisan businesses, he added.

KMEW is currently trading on the BSE PME platform under the M group. The SME platform of the exchange is aimed at small and medium-sized companies with high growth potential. The SME platform of the Stock Exchange is open to SMEs whose post-issue paid-up capital is less than or equal to Rs 25 crore. Trading, clearing and settlement in the SME segment is carried out on a T + 2 basis. BSE SME Certificates that are listed in the “M” group, their trading, clearing and settlement is done on a net basis. The script’s market lot size is 3,000 shares.
Source: Trade standard


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