Seamec hits 52-wk high on vessel deal with Kreuz Subsea

The contract is valid for 50 days and is for an offshore job on the western coast of India.

Feb 23, 2018 05:02 IST India Infoline News Service

Seamec
Shares of Seamec gained over 3% today to hit a 52-week high of Rs195 after the company said it has entered into a contract with Kreuz Subsea for charter hire of its vessel i.e. Revelation, for $300,000.

The contract is valid for 50 days and is for an offshore job on the western coast of India.
SEAMEC Ltd is currently trading at Rs192 up by Rs4.5 or 2.4% from its previous closing of Rs187.50 on the BSE. The scrip opened at Rs192 and has touched a high and low of Rs193 and Rs188.65 respectively. So far 12,081 (NSE+BSE) shares were traded on the counter. 

The current market cap of the company is Rs476.72cr. On technical charts, the stock is seen facing a resistance at Rs200.90. The stock is currently trading above its 50 DMA.

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