Dolphin Offshore jumps up 10%

Dolphin Offshore today rose almost 10% to Rs.91.60 and continues to remain firmly in the green. Its 52-week high is at Rs.158 and low at Rs.72.80.

The stock is up on news that Dolphin Offshore consortium. Which included HAL Offshore and JK Surface Coating won an order worth Rs.154 crore. This order is for protective coating of wellhead platforms project-1 from ONGC.

Though the company has managed to diffuse its complete dependence on ONGC, even today, major chunk of its orders come from ONGC.

Dolphin was started in 1979 by an ex Naval Officer and his son. It started with providing underwater diving services to ONGC and has since then graduated to EPC services in the brownfield offshore segment.