This SME shipping company's stock is up more than 2,900% over issue price

Knowledge Marine & Engineering Works rallied 11% to hit a new high of Rs 1,129.85 after the company received an additional work order of Rs 16.50 crore from Dredging Corporation of India

Shares of Knowledge Marine & Engineering Works (KMEW) rallied 11 per cent in Monday's intra-day trade and hit a new high of Rs 1,129.85 on the BSE after the company said it has received an additional work order of Rs 16.50 crore from Dredging Corporation of India (DCI) for the work of 'Capital Dredging at Mangrol Fishing Harbour – Phase III Part -B'.

Earlier in May 2022, KMEW had received one-year dredging contract worth Rs 67.85 crore from DCI for its Mangrol Fishing Harbour facility for capital dredging in hard rock.

The ongoing work is 50 per cent