Swan Energy hits new high today too!

Swan Energy has been in the limelight since yesterday when it hit a new 52-week high at Rs.201, which was its 20% UC. Today though there is no UC, the stock did hit another new high at Rs.213, going up 6%.

The euphoria on the counter is ever since the company announced that its 100% subsidiary has received Gujarat Maritime Board approval for construction of LNG terminal.

The company announced this yesterday during market hours, stating that through its 100% subsidiary company Swan LNG Private Limited (SLPL), it has received approval from Gujarat Maritime Board (GMB) for commencement of construction of LNG terminal with ancillary structures for its Floating Storage and Re-gasification Unit (FSRU) Project at Jafrabad, Gujarat.

SLPL has executed an EPC contract for Marine and Dredging works worth Rs. 2115 crore with National Marine & Infrastructure India for carrying out the construction of LNG terminal at Jafrabad, Gujarat, to be completed within 3 years, where construction work has already begun.