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Cochin Shipyard shares surge 11% on order win from Indian Navy

The company has been declared as lowest bidder for construction of six numbers of Next Generation Missile Vessels (NGMV) and the estimated total order value is around Rs 10,000 crore

Cochin Shipyard facility
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Cochin Shipyard facility

SI Reporter Mumbai
Shares of Cochin Shipyard surged 11 per cent to Rs 393.70 on the BSE in Tuesday's intra-day trade after the company received order from the Indian Navy. The stock was trading close to its 52-week high of Rs 396, touched on January 11, 2021.

The company has been declared as L1 or lowest bidder in the tender floated by the Indian Navy for construction of 6 numbers of Next Generation Missile Vessels (NGMV) and the estimated total order value is around Rs 10,000 crore, Cochin Shipyard said in a regulatory filing.

The final announcement of the contract will

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First Published: Feb 23 2021 | 2:08 PM IST

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