Kirloskar Oil Shares Rally 5% After Rs 270 cr Deal with Indian Navy for Marine Diesel Engine
Medium-speed engines that can be scaled from 3 MW to 10 MW will be designed and developed in-house by the business and utilized for power generation and main propulsion aboard Indian Coast Guard and Indian Navy ships.
Following receiving an order worth Rs 270 crore from the Defence Ministry, Kirloskar Oil Engines’ share price increased in early trading and continued to rise for the third straight session on April 3. Kirloskar Oil Engines’ quote on the BSE at 09:55 a.m. was Rs 739.20, up Rs 10.00, or 1.37 percent.
The business has awarded the Ministry of Defense a significant contract to design and manufacture a 6MW medium-speed marine diesel engine under the Make-I program. The Government of India will provide 70% of the Rs 270 crore cost of developing the prototype diesel engine, which would have more than 50% indigenous material.
Medium-speed engines that can be scaled from 3 MW to 10 MW will be designed and developed in-house by the business and utilized for power generation and main propulsion aboard Indian Coast Guard and Indian Navy ships. On July 02, 2024, the share reached a 52-week high of Rs 1,450.00; on February 28, 2025, it reached a 52-week low of Rs 544.15.
The stock is now trading 34.01 percent above its 52-week low and 49.71 percent below its 52-week high. The current market capitalization is Rs 10,586.47 crore. Over the past three months, the share price has dropped by 30%.
