Southwest Pinnacle bags new export order from DMT Consulting; stock rises

19 Aug 2022 , 12:14 PM

South West Pinnacle Exploration Limited (SWPEL), an Integrated Service Provider offering end-to-end natural resource drilling and exploration, has received a new export order from DMT Consulting Ltd, UK.

The order includes a Preliminary Study for the Development of Alihat Iron Ore Deposits at Hakimpur in Dinajpur, Bangladesh.

As per the company, this is a short-duration project.

This export order has a revenue potential of Rs8.57 crore for the company. Company further outlined that the maximum revenue of this project will be falling in the current FY 2022-23 itself.

It is SWPEL’s first service export order in Bangladesh, which has vast amounts of iron ore nearby, and it offers up many more potential in that region in the future.

In its 15-years of history, the company has successfully executed over 110 projects for all major government and private organisations.

At around 12.14 AM, SWPEL was trading at Rs190, marginally up against previous close of Rs189.90 on NSE.