India's Seamec rises after its consortium wins subsea installation works order

Seamec

25/03/2025 05:49

** Shares of Seamec SEAM.NS rise 5.8% to 1,003.20 rupees

** Consortium of SEAM and Posh India Offshore got order from Larsen and Toubro LART.NS for subsea installation works for two projects of ONGC ONGC.NS

** SEAM enters into subcontract agreement with Posh India Offshore for total subcontract value of approximately $5.61 mln

** Also, charterparty contract between Asian Energy Services ASIE.NS and SEAM for vessel SEAMEC III has been extended with revised hire rate at $630,000 for 15 days

** SEAM trading vols at 197,666 shares, 6.5x the 30-day average

** Seamec down ~16% YTD

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))