Dolphin Offshore jumps after subsidiary enters into pact with Paxocean Engg for new vessels

Dolphin Offshore Enterprises (India) jumped 11.89% to Rs 103.70 at 15:30 IST on BSE after the company said that its wholly owned subsidiary has entered into a contract with Paxocean Engineering Zhuhai Co. for the construction of two new vessels.

The announcement was made during market hours today, 27 August 2015.

Meanwhile, the BSE Sensex was up 510.31 points, or 1.98% to 26,224.97.

On BSE, so far 55,330 shares were traded in the counter, compared with an average volume of 67,281 shares in the past one quarter.

The stock hit a high of Rs 107 and low of Rs 94 so far during the day. The stock had hit 52-week high of Rs 237.30 on 20 November 2014. The stock hit a 52-week low of Rs 82 on 25 August 2015.

Dolphin Offshore Enterprises (India) said that its wholly owned subsidiary, Dolphin Offshore Enterprises (Mauritius) (DOEMPL) has entered into a contract with Paxocean Engineering Zhuhai Co. for the construction of two new vessels. The expected delivery of the vessels will be during the second half of the calendar year 2017. On 4 February 2015, the company had informed about the construction of the new vessels by DOEMPL.

Dolphin Offshore Enterprises (India) (DOEIL) is a leading provider of underwater services to the Indian oil and gas industry.

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