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Shipping stock jumps 19% after it signs MoU worth ₹5,637 Cr with Govt of Odisha

Top shipping company has entered a ₹5,637 crore MoU with the Government of Odisha to develop manufacturing, ship maintenance, port infrastructure, and mineral exploration, creating significant regional opportunities.
Shipping stock soars 19% after signing ₹5,637 Cr MoU with Odisha Government, boosting market outlook.
Shipping stock soars 19% after signing ₹5,637 Cr MoU with Odisha Government, boosting market outlook.

Introduction:

Leading shipping company has signed a ₹5,637 crore MoU with the Government of Odisha. The partnership focuses on manufacturing, ship maintenance, port infrastructure, and mineral exploration, aiming to drive significant economic opportunities in the region.

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Also Read: Stocks To Watch For Budget 2025

Share price movement of Sadhav Shipping:

On January 29, 2025, Sadhav Shipping Limited opened at ₹125.00, up 9.91% from its previous close of ₹113.90. The stock reached a high of ₹135.85 (14.14%) and a low of ₹125.00. By 3:43 PM, it traded at ₹130.00, a 14.14% increase, with a market cap of ₹186.58 crore.

Sadhav Shipping Signs ₹5,637 Cr MoU:

Sadhav Shipping Ltd. (SSL) has entered into a significant Memorandum of Understanding (MoU) with the Government of Odisha, marking a strategic collaboration to explore business activities in the state. The partnership includes an investment of ₹5,637 crore.

The agreement, signed alongside joint venture partner United Petro Shipping Pte Ltd, focuses on manufacturing, ship maintenance, construction, and port infrastructure at Jagatsinghpur/Kendrapada. The JV will also explore oil and gas production and other mineral extraction from the sea bed.

Both parties will establish a joint venture company to implement the business activities outlined in the MoU. The agreement is poised to create significant opportunities in the region, with no related party transaction or conflict of interest involved.

Stock performance of Sadhav Shipping for Period of 1 week, 1 month, and 6 months:

Sadhav Shipping Limited has seen a decline of 15.7% over the past week, 18.9% over the last month, and 47.1% over the past six months, reflecting ongoing challenges and market volatility impacting the stock’s performance.

Also Read: Best Sectors To Watch For Budget 2025

Shareholding pattern of Sadhav Shipping:

All values in %Sep 2024Mar 2024
Promoter69.40%69.40%
FII0.10%0.00%
DII0%0.00%
Public30.50%31%
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About Sadhav Shipping:

Sadhav Shipping Ltd. (NSE: SADHAV) is a leading player in marine logistics, shipbuilding, and offshore oil & gas projects. With a history dating back to 1996, it specializes in ship repair, oil spill response, coastal logistics, and port services.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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