Multibagger defence stock Swan Defence and Heavy Industries (SDHI) jumped 5% to hit the upper price band at ₹1,791.40 apiece on NSE in Tuesday’s trading session, April 7, after the company bagged India’s first ammonia dual-fuel bulk carrier order.
The multibagger defence stock opened at ₹1,732 today, as compared to the previous close of ₹1,706 on Monday.
Swan Defence and Heavy Industries new order details
In an exchange filing today, the company announced that it has secured a major order from Energy ONE Limited for the construction of four (4) 92,500 DWT dual-fuel ammonia bulk carriers, which is said to be the first for the country.
“These will be the first ammonia dual-fuel ships built in India and are also among the largest commercial vessels ever to be built at an Indian shipyard, representing a significant step forward in both technological capability and scale for the domestic shipbuilding industry,” the company said in the filing.
According to the filing, SDHI said that it has secured a Category 4 order, which is valued between ₹1,501 crore and ₹3,000 crore.
This new order highlights SDHI’s expanding expertise in delivering advanced, next-generation shipbuilding projects that support the global shift toward low-emission maritime transport.
Each of the dual-fuel vessels, measuring 229.5 metres in length with a 37-metre beam, will feature an ammonia-based propulsion system. The ships are being designed by KMS-EMEC in South Korea and will be classified by Det Norske Veritas (DNV), one of the world’s leading classification societies.
“Winning this project is an important step forward for us. It reflects the confidence global stakeholders are placing in Indian shipbuilding and in the capabilities we have developed at Pipavav. Ammonia as a marine fuel is still at an early stage, and we are proud to be part of that transition – building vessels that are not just relevant for today but aligned with where the industry is heading,” said Vivek Merchant, Director at SDHI.
The first vessel is slated for delivery in October 2029, with the remaining vessels to be delivered every four months thereafter.
Energy ONE Limited is a General Partner for New Energy One (NEO), an investment fund registered in the Jersey Channel Islands. With a total capital investment program of USD 2 billion in zero-emission ships, NEO is enabling industrial end users/producers of commodities to reduce their greenhouse gas (GHG) emissions.
Swan Defence and Heavy Industries share price trend
Multibagger defence stock Swan Defence and Heavy Industries has delivered significant returns to investors despite weak market sentiments.
The defence stock has rallied 1,775% in a year and around 22% on a year-to-date (YTD) basis. In the last week alone, the defence stock has gained over 12%, as compared to the Nifty 50’s return of nearly 3%.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
