Bharati Shipyard secures Rs 281 crores Defence contract to supply vessels

Mumbai - March 5, 2009: Bharati Shipyard Ltd, one of the largest private sector shipyard in India, has successfully secured a contract from Government of India, Ministry of Defence, for supply of 15 (fifteen) Interceptor Boats for Indian Coast Guard.

The contract value for these 15 vessels is Rs 281 crores.

It is for the first time that vessels with an Articulate Surface Piercing Propulsion, is being built by an Indian shipyard and is being included in Indian fleet. These vessels are light weight speacilised high speed crafts used for patrolling & interception.

These vessels are fast patrol vessels mean for guarding coastal areas and other assets including E&P installations along the coastal area.

With this, the order book of Bharati Shipyard has crossed the Rs 5000 crores mark and now stands at Rs 5093.71 crores.

The stock was trading at Rs.49.35, up by Rs.0.15 or 0.30%. The stock hit an intraday high of Rs.51.55 and low of Rs.48.30.

The total traded quantity was 47131 compared to 2 week average of 86690.

Source : Equity Bulls

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