India's Marine Electricals rises on order win; set to post highest yearly gain

Marine Electricals (India)

29/12/2023 04:39

** Shares of Marine Electricals (India)  MARN.NS  up 4.96%
to 101.6 rupees
    ** Integrated technology services provider receives order
worth 318.5 mln rupees (nearly $4 million), including five-year
annual maintenance contract worth 60 mln rupees
    ** Order from Ministry of Defence for procuring integrated
bridge systems
    ** Co has been trading above its 200-day simple moving
average since March 
    ** Stock on track to post highest yearly pct gain ever, up
~215% YTD
    ** Co on track to post highest quarterly pct gain in 2023,
biggest Oct-Dec quarterly pct gain ever 
    

($1 = 83.1580 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))