Swan Energy shares jump over 11% to hit all-time high of ₹797.10; check firm's recent updates

At the time of writing this article, the stock was trading at ₹775 on the BSE, up 8.35%. The market capitalisation stood at ₹24,292.91 crore. 

It is also involved in the operation of the LNG port terminal at the Jafrabad port area in the Amreli district of Gujarat with a total capacity of 10 MMTPA. 

In addition, the company engages in the manufacturing and trading of petrochemical products, the generation of power, and the provision of warehousing services. 

The company was formerly known as Swan Mills Limited. Swan Energy Limited was incorporated in 1909 and is based in Mumbai.

Earlier this month, Swan Energy said it has resumed operations at its shipyard.

Formerly known as Reliance Naval and Engineering Ltd. (RNEL), Swan's Pipavav Shipyard in Gujarat has also commenced refitting ships while it is also gearing up to commence its shipbuilding operations at the facility, Swan Energy said.

The Indian Coast Guard's fast patrol vessel Raj Ratan was the first vessel to undergo a refit exercise, it said, adding that the refit work on the vessel, which began on September 4, has been completed on November 30, ahead of the schedule, it said.

The refit project was executed in association with Sadhav Offshore Engineering, it added.

The dry docking and refit of this ship marks a significant milestone in the revival of the shipyard after SEL took over its management control earlier this year through NCLT, the company said.

In August this year, Swan Energy Ltd said it planned to sell its stake in a floating LNG receipt terminal to Turkey's state-run Botas for $399 million.

The company plans to sell assets of subsidiary Triumph Offshore Pvt Ltd to Botas Trading IC, according to a regulatory filing.

"The definitive documents shall be signed in due course," it said, adding the deal is likely to be completed in six months.

The sale consideration of $399 million is to be received in multiple tranches over an unspecified period.

Triumph Offshore Private Limited (TOPL) owns a 5 million tonnes a year floating storage and regasification unit (FSRU) called Vasant-1. Swan Energy holds 51% in TOPL, while fertiliser maker IFFCO holds the remaining 49%.

Swan Energy stock performance

Shares of the company have jumped around 66% in the past year and 52% so far in 2024.