Mumbai, October 27 (Udaipur Kiran): Shares of Knowledge Marine & Engineering Works Ltd surged over 4% on Monday after the company announced that it has received a Letter of Intent (LOI) worth ₹385.76 crore from the V.O. Chidambaranar Port Authority (VOCPA) for a major Green Tug Transition Program (GTTP) project.
The stock was trading at ₹2,377.90, up ₹101.90 or 4.48%, from its previous close of ₹2,276.00 on the BSE. The scrip opened at ₹2,297.20 and touched an intraday high of ₹2,495.00 and low of ₹2,297.20, with around 12,349 shares traded on the counter.
The BSE Group ‘B’ stock, with a face value of ₹10, has a 52-week high of ₹2,650.00 (September 24, 2025) and a 52-week low of ₹1,265.00 (April 7, 2025). The company’s market capitalisation currently stands at ₹2,563.89 crore. The promoters hold 60.69%, while institutions and non-institutions hold 0.90% and 38.41%, respectively.
The LOI, valued at ₹385.76 crore including taxes, covers the hiring of one 60-ton Bollard Pull capacity Electric Tug under GTTP compliance, along with manning, operations, maintenance, and complete technical management at the VOCPA. The project has a 15-year tenure, making it one of the longest-duration contracts received by the company in the past decade.
The 60-ton Green Tug will be designed and built in-house, highlighting Knowledge Marine’s advanced engineering expertise and its growing role in developing eco-friendly marine solutions in line with global sustainability standards.
This strategic contract supports India’s Maritime India Vision 2030, which aims for a 30% reduction in carbon emissions per ton of cargo handled and a transition to zero-emission tugs across all major Indian ports as part of the Green Tug Transition Program.
Knowledge Marine & Engineering Works Ltd is engaged in the ownership, operation, and maintenance of marine crafts for dredging, repair, refitting, and marine infrastructure projects, playing a key role in India’s port and maritime ecosystem.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
