On February 6, 2024, Triveni Engineering share price surged by over 2% after announcing a Memorandum of Understanding with Rolls-Royce Marine North America Inc. to collaborate on 4MW marine gas turbine generators for the Indian market.
John Shade emphasised the strategic importance of India for Rolls-Royce, highlighting their advanced marine gas turbine generators as ideal for the Indian Navy’s future fleet.
Triveni Engineering & Industries is establishing a state-of-the-art multi-modal Defence facility to manufacture, integrate, and test naval marine equipment, bolstering its defence sector capabilities.
On Thursday, February 6, 2024, Triveni Engineering & Industries saw its shares trading actively in an otherwise weak market. The stock climbed by 4.8%, reaching an intraday high of ₹398.35 on the BSE.
The rise in share price came after the company announced that it signed an MoU with Rolls-Royce Marine North America Inc. The agreement will explore collaboration on programs for 4MW marine gas turbine generators (GTG) for Indian customers. The partnership will cover design, development, manufacturing, and full sales and support services.
John Shade, EVP for US Business Development at Rolls-Royce Defence, noted that India is a strategic growth market and that their marine GTGs are well-suited to power the Indian Navy’s future fleet. Tarun Sawhney, Vice Chairman & Managing Director of Triveni Engineering, stated that the partnership would bring advanced technology to India’s naval defence and boost the Indigenous defence ecosystem. He also mentioned that the company is setting up a new multi-modal defence facility for manufacturing, integrating, and testing various naval equipment.
Triveni Engineering & Industries is a diversified conglomerate with strengths in both sugar and engineering. Its engineering division focuses on power transmission, gears, and defence, with a speciality in turbo gearbox solutions. The company serves multiple industries, such as oil and gas, sugar, and marine.
As of February 6, 2025, its market capitalisation on the BSE was ₹8,553.44 crore, and it is part of the BSE Smallcap index.
In the past 6 months, Triveni Engineering shares have provided a return of about 5% to shareholders, and roughly 10.80% over the last year. The stock’s 52-week trading range has been between ₹536 and ₹266.15. On Thursday around 11:30 AM, the shares were trading at ₹390.80, up by 2.83% from the previous close of ₹380.05, while the BSE Sensex was down by 338 points, or 0.43%, at approximately 77,932 points.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Feb 6, 2025, 12:21 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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