Defence stock surges by 278% after being relisted on the NSE and BSE following a 1.5-year hiatus
Defence stock: During Tuesday’s trading session, the shares of India’s largest shipbuilding and heavy fabrication company, Swan Defence and Heavy Industries Limited, surged by 5 percent to hit an upper circuit at Rs. 39.66 on the Bombay Stock Exchange (BSE). This increase came after the company’s relisting on the Indian stock exchanges, BSE and NSE, following a hiatus of 1.5 years.
With a market capitalization of Rs. 209 crores, Swan Defence and Heavy Industries Limited opened positively at Rs. 39.66, surpassing its previous closing price of Rs. 37.78.
Stock Relisting Details
Swan Defence and Heavy Industries Limited made its return to trading on Monday, 20th January 2025, after being relisted on the BSE and NSE. The stock commenced trading at Rs. 35.99 on BSE and quickly rose by 5 percent to reach the upper circuit limit of Rs. 37.78 during Monday’s trading session.
On 17th January, the company had announced the resumption of trading in its shares from 20th January.
In a statement regarding the relisting, the Director of SDHI expressed, “The resumption of trading in Swan Defence and Heavy Industries shares signifies the start of a new chapter for the shipyard. Our vision is to position the shipyard as a globally recognized hub of innovation and craftsmanship, contributing significantly to enhancing India’s reputation among the leading shipbuilding nations worldwide.”
Related Updates
The relisting of Swan Defence and Heavy Industries Limited is in line with the company’s recent rebranding efforts. On 2nd January, Swan Energy revealed that its acquired entity, Reliance Naval and Engineering Ltd (RNEL), had been rebranded as Swan Defence and Heavy Industries Ltd (SDHI).
This strategic move follows Swan Energy’s acquisition of the former Reliance Naval & Engineering, previously under the Anil Ambani group, last year. Through this
The total equity structure of Swan Defence and Heavy Industries Limited (SDHI) comprises 26.81 lakh shares held by the public, in addition to 5 crore shares issued to Hazel Infra, the acquirer through the NCLT process. This results in a total equity value of Rs. 52.68 crore.
About the Company:
SDHI is India’s premier shipbuilding and heavy fabrication company, strategically situated on the west coast of India. As a leading private entity in commercial and defense shipbuilding, ship repairs, and heavy fabrication, SDHI plays a crucial role in India’s maritime industry.
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