Garware Offshore: Q4 push
STOCK IN THE NEWS
| However, the stock has become bullish and gained 11.80 per cent last week. The weekly volumes surged from 26,977 shares during the week ended March 16 to 66,552 shares during the week ended March 23. |
| On Friday, the stock was frozen at the upper limit of the circuit filter, as the company came out with healthy Q4 numbers. The company registered a net profit of Rs 3.63 crore in the fourth quarter ended December 2006 compared with a net profit of Rs 2.16 crore in the same period last year. Net sales for the December 2006 quarter increased to Rs 13.98 crore from Rs 9.13 crore in the year-ago quarter. |
| Recently, Garware Offshore Services entered into an agreement to acquire a new anchor-handling tug-cum-supply vessel. The vessel, scheduled to be delivered in mid-2008, was acquired in a yard sale from a company in the Far East. In February, Garware Offshore Services had signed a memorandum of understanding (MoU) with Norway's Havyard Leirvik for marketing ships built by Havyard to Indian companies. |
| The Havyard group, a fully integrated shipbuilding yard, has delivered more than 100 vessels. It has sold a platform support vessel to Garware, with three more to be delivered in 2007-08. |