Shares of Swan Energy today surged over 5 per cent following Gujarat government's decision to invest 26 per cent in equity of the company's LNG Port Project.
On BSE, the stock settled at Rs 200.60, up 5.11 per cent. It had opened at Rs 194 and soared 10.17 per cent to touch an intra-day high of Rs 210.25.
Following an uptick in the counter, the market capitalisation of the company rose by Rs 215.65 crore to Rs 4,436.87 crore.
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The scrip ended the day on NSE at Rs 200.45, up 5.22 per cent from its previous close. After opening at Rs 193.90, it climbed 10.16 per cent to an intra-day high of Rs 209.85.
On volume front, over 78 lakh shares of the company were traded on the exchanges.
Swan Energy is developing India's first LNG Port along with Floating and Regasification Unit (FSRU) near Jafrabad in Gujarat with a total investment of Rs 5,900 crore. A subsidiary company Swan LNG is implementing this project.
"Government of Gujarat has now decided to participate by investing 26 per cent in equity of the LNG Port Project through Gujarat State Petronet Limited and Gujarat Maritime Board jointly," Swan Energy said in a BSE filing.
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