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Why Duke Offshore share is stuck in upper circuit of 20% today

BusinessToday.In     February 20, 2019

The Duke Offshore share price rose 20% in early trade after the firm bagged a contract by Daewoo - Tata projects Limited JV to provide one initial high speed vessel to support construction for the Mumbai Trans Harbour Link project. The Duke Offshore share price rose to 25.35 level intra day compared to the previous close of 21.15 level on the BSE. Duke Offshore share opened 17.97% higher at 21.15 level on the BSE. There were only buyers, no sellers in the Duke Offshore stock.

Also read: RCom, IL&FS Transportation among 5 smallcap stocks that slipped below face value on bourses

Duke Offshore share has lost 41.42% during the last one year and gained 1.20% since the beginning of this year.

0.37 lakh shares of the firm were traded on the BSE.

The contract is for a period of two years with an extension option up to 30 months and will start in February 2019.

Also read: This stock gave 30,000% returns in last 10 years, do you own it?

The company started as a diving and underwater engineering company offering specialised underwater inspection services to the offshore oil industry.

It expanded its operations into hook-up and commissioning of offshore oil fields installations, construction and fabrication of small offshore structures.  It has its workshop at Tarapur, Maharashtra.

Meanwhile, the Sensex and Nifty were trading higher today. While the Sensex rose 219 points to 35,572 level, the Nifty gained 68 points to 10, 673.

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