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Swan Energy Share Price Corrects 14% after

Making Record High


Swan Energy share price dipped more than 14 per cent
today after recording a new life time high of Rs 201.20
yesterday (13th December 2016). The same record was
further broken in todays trading session. Today the share
price went as high as Rs 213.85 apiece on NSE. From this
new high the share price dropped 14.51 per cent today (as
of 1.53 PM) to trade at Rs 172.00. The intraday low so far is
Rs 171.10.
This rise, for both yesterday and today, was a result of the approval from Gujarat
Maritime Board for commencement of construction of an LNG terminal towards Swan
Energys 100 per cent subsidiary - Swan LNG Private Limited (SLPL).
The company in a notice to BSE on 13th December said that it, through its 100 per cent
arm Swan LNG Pvt Ltd has got a nod from the Gujarat Maritime Board for starting the
construction of LNG terminal with ancillary structures for its floating storage as well as
re-gasification unit at Jafrabad in Gujarat.
Swan LNG Private Limited has executed an engineering procurement construction
contract for marine and dredging works worth Rs 2,115 crores with National Marine &
Infrastructure India Private Limited (NMIIPL) for carrying out the construction of LNG
terminal at Jafrabad location, which will be completed within a period of three years.
NMIIPL has already started the construction work, the company further added.
In August, a report stated that the state-owned ONGC, IOC and BPCL have booked 60
per cent of the capacity of Swan Energy Limiteds upcoming floating LNG terminal off
the Gujarat coast, giving the Nikhil Merchant-led firm a much-needed backing to
complete the Rs 5,600 crores project.
Oil and Natural Gas Corp (ONGC), IOC and Bharat Petroleum Corp Ltd (BPCL) have
agreed to take one million tonnes per year capacity each on the 5 million tonnes a year

floating LNG terminal planned at the Jafrabad port in Gujarat. GSPC, too, is in talks to
take 1.5 million tonnes capacity in the floating, storage and regasification unit.
The companies will bring their own LNG from abroad and also pay Swan a tolling fee,
the report added.
Swan Energy share price in todays trading session opened approximately 7 points
higher at Rs 208.40 from the previous closing of Rs 201.20.
According to Dynamic Levels Swan Energy is one of the top 500 stocks filtered out of
the 1700 plus stocks listed on NSE because of its strong fundamentals.
Get the historical share price performance of Swan Energy at Swan Energy share price
history.

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Article Written by
Nabarupa Kanjilal