Mumbai, September 22 (Udaipur Kiran News): Shares of Swan Defence and Heavy Industries (SDHI) hit their upper circuit limit on the BSE after the company signed a Memorandum of Understanding (MoU) with Gujarat Maritime Board (GMB) for a strategic investment of ₹4,250 crore. The stock was locked at ₹606.15, up ₹28.85 or 5.00% from its previous close of ₹577.30.
The scrip opened at ₹606.15 and stayed at the same level throughout the session, marking a new 52-week high of ₹606.15. A total of 774 shares were traded on the counter. The company’s market capitalisation currently stands at ₹3,193.33 crore.
As per the MoU, the investment will be deployed across three key projects at Pipavav Port, Gujarat, home to India’s largest dry dock:
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₹3,500 crore for shipyard capacity expansion including slipway, jetties, cranes, block fabrication and dredging to meet global and domestic shipbuilding demand.
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₹200 crore for a Centre of Excellence (CoE) for Maritime, designed to train over 1,000 youth annually with advanced simulators, labs, smart classrooms, and ship design software.
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₹550 crore for developing a 200-acre Maritime Cluster within the shipyard to house ancillary industries, suppliers, and service providers, boosting efficiency, innovation and trade.
Swan Defence and Heavy Industries, formerly known as Reliance Naval and Engineering, is India’s largest shipbuilding and heavy fabrication company, strategically located on the west coast. It provides integrated solutions for the maritime and heavy engineering sectors.
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.