 "Swan Defence shares relists on NSE, BSE, freezes at 5% upper circuit")
Swan Defence relisting: Swan Defence and and Heavy Industries Limited (SDHI) share price today relisted on the bourses on Monday, January 20, 2025. Swan Defence, which had acquired Reliance Naval and Engineering, opened at Rs 35.99 on the BSE, and moved higher to lock in the 5 per cent upper circuit band at Rs 37.78 on the BSE.
By comparison, the benchmark Sensex index was up 0.7 per cent at 1:10 PM.
“The Equity Shares of SDHIL shall be listed and admitted to dealings on both the Exchanges, i.e., BSE & NSE in the ‘T’ Group of Securities, effective from January 20, 2025,” the exchanges said in their notices.
Under the ‘T’ group, every transaction requires mandatory delivery. Unlike regular trading, which allows intraday trades without delivery, ‘T’ Group stocks necessitate the actual transfer of shares from the seller to the buyer. Additionally, BTST (Buy Today, Sell Tomorrow) or STBT (Sell Today, Buy Tomorrow) trades are not permitted in this group.
Notably, Swan Defence and Heavy Industries Limited is India's largest shipbuilding and heavy fabrication company. It is equipped with a state- of-the-art shipyard featuring a 662m x 65m dry dock and a fabrication capacity of 1,44,000 tons per annum. The company leverages on advanced technology and world-class infrastructure to deliver high-quality solutions for the maritime and heavy fabrication sectors.
"The resumption of trading marks a new journey to transform their shipyard into a premier global maritime hub, advancing India’s position in global shipbuilding," said Vivek Merchant, director, Swan Defence and Heavy Industries.
Meanwhile, recently, Swan Defence completed he refit of the Indian Coast Guard’s fast patrol vessel, Raj Ratan, ahead of schedule. Shares of sister firm Swan Energy, meanwhile, tumbled 6.2 per cent to hit an intraday low of Rs 642 on the BSE as against its previous close of Rs 684.3 per share.