Cochin Shipyard secures ₹500 Cr contract for electric tugs
after close1 source ↓written by the desknot a recommendation
- valued between
- ₹250 cr to ₹500 cr
- trading
- ₹1,644.35
Cochin Shipyard Ltd signed a contract with Denmark's Svitzer to build four electric TRAnsverse tugs, valued between ₹250 cr to ₹500 cr. Despite softer quarterly results, the company maintains a strong order book and defence pipeline, indicating robust demand in shipbuilding. Shares rose up to 2% from intraday lows, trading at ₹1,644.35.
This contract enhances long-term visibility for the company, reflecting a positive outlook for the maritime sector.
Not investment advice. For informational purposes only.