Seamec rose 8.33% to Rs 84.55 at 11:29 IST on BSE after the company said it won a contract worth approximately $33.44 million from HAL Offshore.
The announcement was made after market hours yesterday, 29 September 2016.Meanwhile, the BSE Sensex was down 43.49 points, or 0.16%, to 27,784.04
On BSE, so far 5,198 shares were traded in the counter, compared with average daily volume of 15,660 shares in the past one quarter. The stock hit a high of Rs 85.85 and a low of Rs 82.10 so far during the day. The stock hit a 52-week high of Rs 127 on 3 November 2015. The stock hit a 52-week low of Rs 64.25 on 31 March 2016. The stock had underperformed the market over the past 30 days till 29 September 2016, falling 13.42% compared with 2.20% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 23.03% as against Sensex's 2.51% rise.
The small-cap company has equity capital of Rs 25.43 crore. Face value per share is Rs 10.
Seamec said that it has entered into an agreement with HAL Offshore (HAL) for deployment of vessel Seamec II along with provision of services of remotely operated vehicle (ROV), the contract commenced with effect from 28 September 2016. As intimated, the total contract value for the period of 3 years will be $33.44 million approximately.
Seamec reported net loss of Rs 11.16 crore in Q1 June 2016 as against net profit of Rs 12.19 crore in Q1 June 2015. Net sales declined 46.28% to Rs 46.62 crore in Q1 June 2016 over Q1 June 2015.
Seamec is the region's leading provider of Diving Support Vessel (DSV) based diving services. The company has experience in the ongoing subsea inspection, repair, maintenance and light construction required for the efficient and productive support of offshore oil production.
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