Swan Energy shares fly 11%, hits record amid heavy volumes; up 35% in 1 mth

The shares of the company were in great demand, as a total of 0.66 million equity shares worth Rs 51.15 cr exchanged hands on the BSE, by 1:45 PM. Similarly, 24.19 million shares worth Rs 1,858.22 cr

Swan Energy share price: Natural gas distribution company Swan Energy shares were buzzing in trade on Wednesday, December 11, 2024, as the scrip zoomed up to 11.44 per cent to hit a fresh record high (all-time high) of Rs 797.10 per share amid heavy volumes. 

 

Swan Energy shares have rallied over 35 per cent in the past month.

 

The shares of the company were in great demand, as a total of 0.66 million equity shares worth Rs 51.15 crore exchanged hands on the BSE, by 1:45 PM. Similarly, 24.19 million shares worth Rs 1,858.22 crore exchanged hands on NSE.

 

 

At the beginning of the month, Swan Energy announced the resumption of operations at its Shipyard (‘Reliance Naval and Engineering Limited or RNEL’).  Swan Energy’s shipyard has commenced refit of ships at its establishment. Indian Coast Guard’s fast patrol vessel, Raj Ratan, was the first repair project, which began on September 4, 2024. The project was completed ahead of schedule, on November 30, 2024. The refit was executed in association with Sadhav Offshore Engineering, the company said.

 

“As part of the comprehensive refit of the ICG vessel, Swan Energy’s shipyard provided end to end services, including berthing and dry docking, along with critical yard services essential for the vessel’s overhaul. Swan’s Shipyard is also gearing up to commence its shipbuilding operations at the facility,” Swan Energy said in a statement.

 

About Swan Energy 

 

Swan Energy, established in 1909 and headquartered in Mumbai, India, operates across diverse sectors, including textiles, real estate, and energy, both domestically and internationally. 

 

The company is structured into multiple segments including Textiles, Energy, Construction/Others, Distribution & Development, Warehousing, and Power Generation. It produces and markets a wide range of fabrics such as cotton, polyester cotton, linen, viscose, and non-lycra products, alongside developing commercial and residential real estate projects. 

 

Swan Energy also operates a Liquefied Natural Gas (LNG) port terminal at Jafrabad in Gujarat's Amreli district, boasting a capacity of 10 MMTPA. 

 

Additionally, the company is involved in manufacturing and trading petrochemical products, power generation, and providing warehousing services. Formerly known as Swan Mills Limited, the company has a rich legacy of over a century.

 

The market capitalisation of Swan Energy is Rs 24,388.51 crore, according to BSE. The company falls under the BSE 500 category.

 

At 1:50 PM, Swan Energy share price was off highs and was trading 7.60 per cent higher at Rs 769.60 per share. By comparison, BSE Sensex was trading 0.10 per cent or 79.44 points higher at 81,589.49 levels.