Ministry of Defence declares Cochin Shipyard Ltd as L1 for Indian Navy order

At the meeting held today at the Ministry of Defence, New Delhi, Cochin Shipyard Limited (CSL) has been declared as L1 in the tender floated by the Indian Navy for construction of 6 nos. of Next Generation Missile Vessels (NGMV) and the estimated total order value is around Rs. 10,000 crore.

The final announcement of the contract will be subject to the satisfactory completion of necessary formalities in this regard, which will be updated in due course.

Shares of Cochin Shipyard Ltd was last trading in BSE at Rs.352.85 as compared to the previous close of Rs. 362.9. The total number of shares traded during the day was 7578 in over 430 trades.

The stock hit an intraday high of Rs. 367 and intraday low of 351. The net turnover during the day was Rs. 2709643.

Source : Equity Bulls

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