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Cochin Shipyard zooms on inking Phase-III contract for construction of Indigenous Aircraft Carrier

Cochin Shipyard is currently trading at Rs. 403.00, up by 14.05 points or 3.61% from its previous closing of Rs. 388.95 on the BSE.

The scrip opened at Rs. 393.85 and has touched a high and low of Rs. 409.95 and Rs. 393.85 respectively. So far 3911 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 408.35 on 30-Oct-2019 and a 52 week low of Rs. 320.15 on 15-Oct-2019.

Last one week high and low of the scrip stood at Rs. 409.95 and Rs. 379.35 respectively. The current market cap of the company is Rs. 5116.26 crore.

The promoters holding in the company stood at 75.21%, while Institutions and Non-Institutions held 13.91% and 10.87% respectively.

Cochin Shipyard has signed the Phase-III contract for Construction of the Indigenous Aircraft Carrier on October 31, 2019. 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. The contract also covers some activities which are to be undertaken post-delivery of the vessel including support during weapon & aviation trials. The contract value is above Rs 3,000 crore.

Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India. The company caters to clients engaged in India’s defence segment and global commercial shipping sector.

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