Marine Electricals share price rallied over 4% in early trade on Tuesday after the company received an order from the Indian Navy. The small-cap stock jumped as much as 4.10% to ₹232.95 apiece on the NSE.
The integrated electrical and automation solutions provider Marine Electricals (India) announced that it has received an order from the Indian Navy for the supply of Integrated Bridge System. The order is worth ₹5.71 crore.
“We are pleased to inform you that Marine Electricals (India) Limited has received order amounting to total of ₹5.71 crores Excluding Taxes, from Indian Navy Material Organisation for supply of Integrated Bridge System. The delivery of the said goods shall be made over a period of 6 months,” Marine Electricals (India) said in a filing on the National Stock Exchange (NSE).
Last week, the company had announced the receipt of multiple orders amounting to a total of ₹60.44 crore.
Marine Electricals (India) provides integrated electrical and automation solutions and operates through the Marine and Industry segments. The Marine segment provides products and services of navigational equipments etc in new ship building. The Industry segment refers to products and services of power distribution and solutions for industries like data centre, industrial, and large buildings.
Marine Electricals Share Price Performance
Marine Electricals share price is listed only on the NSE and not listed on BSE. The small-cap stock has gained 8% in one month, but has dropped 24% in the past six months. On a year-to-date (YTD) basis, Marine Electricals shares have declined 13%, while it has delivered strong returns in the long term.
Marine Electricals share price has rallied 57% in one year, and the small-cap stock has delivered multibagger returns of 1,200% over the past five years.
At 11:05 AM, Marine Electricals share price was trading 0.06% higher at ₹223.90 apiece on the NSE.
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