Swan Defence and Heavy Industries shares hit the 5% upper circuit limit of ₹1,791.40 on Tuesday following the announcement of a significant order win. According to The Economic Times, the company secured an order to build four 92,500 DWT dual-fuel ammonia bulk carriers, marking India's first such project in this category. The order falls under category 4, which ranges between ₹1,501-3,000 crore, representing a major milestone for India's shipbuilding capabilities. As per Live Mint, the stock opened at ₹1,732 compared to the previous close of ₹1,706 on Monday.
As reported by The Economic Times, each of the dual-fuel vessels will measure 229.5m in length with a beam of 37m. The vessels will be equipped with an ammonia-fuelled propulsion system and will be designed by KMS-EMEC, South Korea, with classification by Det Norske Veritas (DNV). The first vessel is scheduled for delivery in October 2029, with subsequent deliveries planned at four-month intervals. According to the latest exchange filing, these will be the first ammonia dual-fuel ships built in India and represent among the largest commercial vessels ever to be built at an Indian shipyard.
According to The Economic Times, these will be the first ammonia dual-fuel ships built in India and represent among the largest commercial vessels ever to be built at an Indian shipyard. Vivek Merchant, Director of Swan Defence and Heavy Industries Limited (SDHI), stated that winning this project reflects global stakeholder confidence in Indian shipbuilding capabilities and the technological advancement achieved at Pipavav. The company noted that ammonia as a marine fuel is still at an early stage, positioning the project as part of the industry's transition toward sustainable maritime fuel solutions. As per Live Mint, this new order highlights SDHI's expanding expertise in delivering advanced, next-generation shipbuilding projects that support the global shift toward low-emission maritime transport.
As reported by The Economic Times, Swan Defence and Heavy Industries, formerly known as Reliance Naval and Engineering, operates as a shipbuilding and heavy fabrication company on India's west coast. The company operates the country's largest dry dock, measuring 662m by 65m, with a fabrication capacity of 164,000 tonnes per annum. The stock has demonstrated exceptional performance with a 1775% rise in just one year and 22% growth on a year-to-date basis. According to Live Mint, in the last week alone, the defence stock has gained over 12%, significantly outperforming the Nifty 50's return of nearly 3%.
