Swan Defence And Heavy Industries Shares Rise More Than 4% To Hit 52-Week High On ₹1,897-Crore Tanker Bid
Add Preferred News Source
Swan Defence shares rose 4.1% to hit a fresh 52-week high after the company emerged as the lowest bidder for a proposed ₹1,897-crore contract to build four product tankers for an SCI-led joint venture.
Swan Defence and Heavy Industries shares rose 4.1% to ₹2,850 on Monday after the shipbuilder emerged as the lowest bidder for a proposed ₹1,897-crore contract to build four medium-range product tankers.
The stock touched ₹2,874.55 during the session, marking a fresh 52-week high and the upper price band for the day.
Swan Defence quoted around $48.9 million per vessel when price bids were opened on Friday, 9 October. Its bid was lower than that of the state-run Cochin Shipyard, which quoted about $4 million more per vessel.
The proposed order is linked to a joint venture led by Shipping Corporation of India (SCI). The contract has not yet been finalised, but it could add to Swan Defence's growing shipbuilding pipeline.
At 12:07 PM, Swan Defence share price on the National Stock Exchange (NSE) stood at ₹2,842 apiece, up 0.89%.
Four Tankers Planned Under The Deal
The proposed contract covers two firm orders and two optional vessels. Each medium-range product tanker will be capable of carrying around 17,000–18,000 tonnes of cargo and will be designed to be ready for dual-fuel operations.
If the contract goes ahead, it would mark India's first locally built oil tankers in around 25 years, as the country looks to expand its domestic shipbuilding capacity.
Swan Defence has a technical collaboration with South Korea's Samsung Heavy Industries. The company resumed operations under new management led by Swan Corp in 2024 and has since added several vessel-building contracts to its pipeline.
Swan Defence Adds Bulk Carriers And Chemical Tankers
The company has already secured an order from Energy ONE Ltd to build four dual-fuel ammonia bulk carriers. The contract is valued at around $240 million to $280 million.
It has also won a $227-million contract from European shipowner Rederiet Stenersen AS to construct six chemical tankers, each with a capacity of 18,000 tonnes.
In another deal, Swan Defence signed a contract with Copenhagen-based Svitzer Group to build four biofuel-powered TRAnsverse tugs. The contract is worth around ₹500 crore.
The tanker bid adds to these projects as the shipyard looks to expand its presence in commercial vessel manufacturing.
Government’s Shipbuilding Push
The Cabinet cleared a ₹69,725-crore package for the shipbuilding sector in September 2025. The proposed tanker deal is linked to Shipping Corporation of India, with Swan Defence quoting about $48.9 million for each vessel.
Swan Defence has emerged as the lowest bidder, but the ₹1,897-crore contract is still at the proposal stage.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
Right Tools, Rich Insights
