Swan Defence shares rise 4% to hit 52-week high on Rs 1,897 crore tanker order prospect

What happened: Swan Defence shares rose 4% to a 52-week high after emerging as the likely bidder for a Rs 1,897 crore tanker order, beating Cochin Shipyard. Key numbers: Intraday high Rs 2,874.55, also the upper price band. Bid about $48.9 million per vessel versus Cochin Shipyard at about $4 million more. Why it matters: The contract, once signed, would mark the first attempt in 25 years to build oil tankers locally, and adds to a growing order book for the shipyard, which restarted operations in 2024 under new management.

Swan Defence shares rose 4% to a 52-week high after emerging as the likely bidder for a Rs 1,897 crore tanker order, beating Cochin Shipyard.

The contract, once signed, would mark the first attempt in 25 years to build oil tankers locally, and adds to a growing order book for the shipyard, which restarted operations in 2024 under new management.