Duke Offshore surges 20% on bagging contract from Daewoo-Tata JV

NEW DELHI: Shares of Duke Offshore surged nearly 20 per cent on Wednesday morning after the company received a two-year contract by Daewoo-Tata Projects JV to provide initial high speed vessel to support construction at the Mumbai Trans Harbour Link project.

The scrip closed at Rs 25.35, up 19.86 per cent on BSE while the benchmark BSE Sensex closed 1.14 per cent higher at 35,756.26.

The contract is for a period of 2 years with an extension option of up to 30 months and will start this month.

The shares of Duke Offshore opened at Rs 24.95 on BSE against its previous closing of Rs 21.15.