Seamec Wins ONGC Vessel Charter Contract

16 Dec 2025 CW Team

Seamec shares rose 2.90 per cent to Rs 1,042.85 after the company, through its subcontractor G R Infraprojects, secured a contract from Oil and Natural Gas Corporation for the charter hire of its vessel Seamec III.

The vessel will be deployed for second-season subsea installation and diving works under the part replacement pipeline project (PRP-VIII A) and the DSF II project. The lump-sum subcontract has a tenure of 150 days and is valued at about $16.72 million, excluding GST. The order was awarded by a domestic entity in the normal course of business, with no promoter interest involved, and does not qualify as a related-party transaction.

Seamec operates across two verticals within the shipping sector—offshore support vessels and services, and bulk carrier chartering. The company owns six vessels and one barge in its offshore support business, with deployments across domestic and international markets.

G R Infraprojects, which is executing the subcontract, is engaged in infrastructure development on engineering, procurement and construction as well as build, operate and transfer models. Shares of G R Infraprojects rose 0.75 per cent to Rs 1,011.20 on the BSE.

Maharatna PSU Oil and Natural Gas Corporation is India’s largest crude oil and natural gas producer, contributing about 71 per cent of domestic output. The Government of India held a 58.89 per cent stake in ONGC as of September 30, 2025. ONGC shares closed 0.38 per cent higher at Rs 239.38 on the BSE.

Real Estate

16 Dec 2025

Godrej Properties Logs Rs 26 Bn Sales in First Year in Hyderabad

Godrej Properties has reported housing sales worth over Rs 26 billion in its first year of operations in Hyderabad, underscoring a strong market entry and prompting the company to accelerate expansion plans in the city. The developer sees significant long-term growth potential in Hyderabad, driven by sustained demand for premium and luxury residential properties.The company entered the Hyderabad housing market in January this year with the launch of its first residential project at Kokapet. This was followed by a second project launch during the July–September quarter. Together, these two de..

Mahindra Unveils COMPAX Mini Compactor at EXCON 2025

Mahindra’s Construction Equipment business (MCE) recently unveiled the Mahindra COMPAX mini compactor for the road construction industry at the CII-organised EXCON exhibition held at BIEC, Bengaluru. Alongside the new launch, the company showcased its advanced CEV-V range of machines, featuring improved comfort, higher productivity and enhanced performance aimed at improving customer earnings.Speaking at the event, Dr Venkat Srinivas, Business Head – Mahindra Truck, Bus and Construction Equipment, and Executive Director & CEO – SML Mahindra Ltd, said Mahindra’s commercial vehicles ..

Puravankara Arm Secures Rs 5.09 Bn Bengaluru Luxury Project LoA

Puravankara has announced that its wholly owned subsidiary, Starworth Infrastructure & Construction (SICL), has received a Letter of Acceptance (LoA) valued at Rs 5.09 billion for a large-scale luxury residential project in Bengaluru. The contract reinforces the group’s construction portfolio and underlines its continued presence in the city’s premium housing segment.The LoA has been awarded by One Bangalore Luxury Projects LLP and pertains to the execution of Varnam Phase 1 of the One Bangalore Luxury Project, located in Devanahalli in Bengaluru Rural District. The scope of work inclu..