The scrip of GARWARE OFFSHORE Services hit the upper circuit of 20 per cent to close at Rs 92.4 after the company secured a three-year contract from Oil and Natural Gas Corporation (ONGC). The company is expected to rake in an annual revenue of Rs 35 crore.
The public sector undertaking will use the services of a newly-built, platform supply vessel ‘M V Makalu’ during the contract period. The stock opened at a day’s low of Rs 76.15 and subsequently touched the intra-day high of Rs 92.4 with trading volumes of 23,250 shares. The scrip hit a 52-week high of Rs 279.9 and a low of Rs 52.
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