Mumbai: Swan Energy share price jumped over 10 per cent to trade at Rs 568.05 per equity share at 12:55 pm on Thursday. The Swan Energy stock price recorded several ups and downs in the last six months. The counter surged around 46 percent in the last one year. Swan Energy is engaged in the business of Shipbuilding & Heavy Engineering, Oil & Gas, Textiles, Realty and Petroleum & Petrochemical Trading & Manufacturing.
Swan Energy share price appreciated around 13 per cent after the company issued a clarification in regards to a press release published by the UK government. The release published with the title “UK, EU and Canada Impose New Sanctions Targeting Myanmar Military Regime and Its Associates.”
Swan Energy informed the exchanges that it has no business in Myanmar and is not associated with Asia Sun Trading Company Limited. The firm assured the regulators and shareholders that it acts in accordance to the rules and regulations set by the Indian authorties.
“Swan Energy and its subsidiaries have no assets or business operations in Myanmar. Furthermore, the company has no association or affiliation with Asia Sun Trading Company Limited, Swan Energy Company Limited, or any other entities referenced in the afore mentioned press release,” the company said in an exchange filing.
“As a publicly listed company on both the BSE and NSE, Swan Energy strictly adheres to regulatory frameworks and is committed to ethical and transparent business practices. Our operations remain focused on our core sectors, aligned with robust compliance and governance standards, to deliver sustainable growth and value for all stakeholders,” the firm added.
Swan Energy Q1 Results 2024-25
In its first quarter results of 2024-25, Swan Energy Ltd’s reported a jump in its net profit of 85 percent. The firm’s profit stood at Rs 267.7 crore as compared to Rs 144.8 crore in the Q! of 2023-24. As per the exchange filing, the company’s revenue surged 42% year-on-year to Rs 1,141.7 crore in the first three months of the current financial year. It was Rs 804.3 crore in the same period in the previous fiscal.
Who is the owner of Swan Energy
Navinbhai Chandulal Dave is the chairman of Swan Energy. He has an experience of more than 60 years in various areas of real estate, textiles and education. Nikhil Merchant is the director in the company. Swan Energy Ltd was incorporated on February 22, 1909 and is owned and managed by Dave and Merchant families.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Swan Energy share price jumped over 10 per cent on Thursday after the company rejected reports that it has businesses in Myanmar and links with Asia Sun Trading. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
