Cochin Shipyard shares rise 6% on ₹5,000 crore Navy contract
pre-market1 source ↓written by the desknot a recommendation
- to ₹1
- 5.69%
- contract to build
- ₹5,000 crore
Shares of Cochin Shipyard surged 5.69% to ₹1,556.40 after the company emerged as the lowest bidder (L1) for a ₹5,000 crore contract to build five Next Generation Survey Vessels for the Indian Navy. The formal award is pending procedural formalities, with further updates expected soon. This significant milestone could enhance the shipbuilder's order book significantly.
Not investment advice. For informational purposes only.