Reliance Defence surges after delivery of carrier

Reliance Defence and Engineering rose 5.8% at Rs 60.15 at 15:11 IST on BSE after the company said it has successfully delivered a 73,500 dead weight tonne bulk carrier to an international customer.

The announcement was made after market hours yesterday, 21 June 2017.

Meanwhile, the S&P BSE Sensex was up 27.95 points or 0.09% at 31,311.59. The S&P BSE Mid-Cap index declined 78.23 points or 0.53% at 14,772.51.

On the BSE, 17.04 lakh shares were traded on the counter so far as against the average daily volumes of 6.48 lakh shares in the past one quarter. The stock had hit a high of Rs 61.35 and a low of Rs 57.95 so far during the day. The stock had hit a 52-week high of Rs 72.85 on 1 August 2016 and a 52-week low of Rs 48.40 on 22 November 2016.

The stock had underperformed the market over the past one month till 21 June 2017, sliding 10.54% compared with the Sensex's 2.69% rise. The stock had also underperformed the market over the past one quarter, declining 5.25% as against the Sensex's 6.1% rise. The scrip had also underperformed the market over the past one year, sliding 13.07% as against the Sensex's 16.67% rise.

The mid-cap company has equity capital of Rs 737.59 crore. Face value per share is Rs 10.

Reliance Defence and Engineering successfully delivered a 73,500 dead weight tonne (DWT) new-built Ice-class Panamax Bulk Carrier to an international customer on 21 June 2017.

Reliance Defence and Engineering reported net loss of Rs 139.92 crore in Q4 March 2017, compared with net profit of Rs 102.44 crore in Q4 March 2016. Net sales rose 140.6% to Rs 227.89 crore in Q4 March 2017 over Q4 March 2016.

Reliance Defence and Engineering (RDEL) has a large ship building/repair infrastructure in India. It has one of the largest dry docks in the world.

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