Three days ago, on 25th Aug, Dolphin Offhsore had hit a new 52-week low at Rs.82 and today, it has quickly spurted up. The stock is up currently 7.5% at Rs.112 levels with an intra day high at Rs.116. Volumes are up over 3.5 times.

The stock is up after the company announced that its wholly owned subsidiary, Dolphin Offshore Enterprises (Mauritius) (DOEMPL) has entered into a contract with Paxocean Engineering Zhuhai  for the construction of two new vessels.

The expected delivery of the vessels will be during the second half of the calendar year 2017.