Cochin Shipyard hits 52-week high after bagging Rs 3,000-crore contract

Cochin Shipyard

Shares of Cochin Shipyard touched 52-week high of Rs 409.95, rising more than 5 percent intraday on November 1, after the company signed a contract worth Rs 3,000 crore.

The company had signed the Phase-III contract for construction of the indigenous aircraft carrier on October 31, a press release said.

The Phase-III contract covers the operational and harbour acceptance trials of various equipment and systems installed onboard and also the sea trials of the carrier, which is to be handed over to the Indian Navy in 2021. It will be known as INS Vikrant once commissioned.

The contract also covers post-delivery activates, including support during weapon and aviation trials.

At 0955 hours, Cochin Shipyard was quoting at Rs 406.75, up Rs 17.80, or 4.58 percent, on the BSE.

News Source:- Moneycontrol

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