ABG Shipyard is trading higher by 4% at Rs 385 after the company said it has received an order from Indian Navy worth Rs 485 crore for the construction of Cadet training ship.
“The company has signed a repeat order for construction of one additional Cadet Training Ship for Indian Navy (Ministry of Defence) valuing Rs 485 crore,” ABG Shipyard said in a statement.
The ship is for providing basic training to the Naval Cadets and trainees to carry out disaster relief, search and rescue operations with the capability to carry light helicopters, it added.
The stock opened at Rs 378 and touched high of Rs 390 on the BSE. A combined 77,702 shares have changed hands on the counter till early noon deals on both the exchanges.
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