Garware Offshore enters into MoU for Acquisition of Vessel

Garware Offshore Services Ltd has announced that the Company has entered into a Memorandum of Understanding (MoU) for the acquisition of one Anchor Handling Tug Cum Supply Vessel (AHTSV) of 60 Tons Bollard Pull fitted with Fire Fighting Equipment (FIFI 1) and Dynamic Position System (DP1).

The Vessel is scheduled to be delivered to the Company in August, 2008.

The stock was trading at Rs.237.55, up by Rs.6.05 or 2.61% The stock hit an intraday high of Rs.239.9 and low of Rs.234.9. The total traded quantity was 37477 compared to 2 week average of 128086.

Source : Equity Bulls

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