Gujarat Pipavav Port gains on 5-year ONGC contract for offshore supply base

Gujarat Pipavav Port rose 1.34% to Rs 155.30 after the company announced that it has received a letter from ONGC awarding a contract for hiring port and storage facilities at Pipavav Port.

The agreement, effective from 1 October 2025, will run for five years. Under the proposed arrangement, Gujarat Pipavav Port will provide marine support and storage facilities to ONGC as it establishes its offshore supply base within the port premises. The notification letter issued on 24 September 2025, will be formalized into a detailed agreement between the two companies.

Gujarat Pipavav Port is India's first private sector port located on the south west coast of Gujarat near Bhavnagar. The port is strategically placed to on International Maritime Trade route which connects India with US, Europe, Africa, Middle East on one side and Far East on the other side.

Gujarat Pipavav Port's consolidated net profit slipped 4.87% to Rs 104.32 crore while revenue from operations rose 1.81% to Rs 250.44 crore in Q1 FY26 over Q1 FY25.

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