Synopsis:

Sadhav Shipping Ltd, secured a three-year deployment contract with Oil and Natural Gas Corporation Ltd. (ONGC) for its upgraded vessel M.V. Canara Pride.

A shipping and offshore services stock gained sharply in Monday’s session after announcing a strategic contract deployment with ONGC. Investor sentiment improved as the company highlighted its expanding offshore presence.

Sadhav Shipping Ltd , with a market capitalization of Rs. 167.57 crore, opened at Rs. 109.15 against its previous close of Rs. 111.35. The stock hit an intraday high of Rs. 122, marking a 9.6 percent rise from the previous close.

What’s the News?

The company has successfully deployed its M.V. Canara Pride vessel under a three-year contractual agreement with ONGC. The contract is valued at USD 12.27 mill

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