Cochin Shipyard surges 6% on contract win worth Rs 3,000 crore

The company has signed the Phase-III contract for construction of the indigenous aircraft carrier for Indian Navy.

Shares of Cochin Shipyard hit a 52-week high of Rs 412, up 6 per cent on the BSE on Friday after the company won contract worth Rs 3,000 crore. The stock of the state-owned shipping company was trading at its highest level since September 26, 2018 on the BSE.

In a regulatory filing, Cochin Shipyard said on Thursday that it has signed the Phase-III contract for construction of the indigenous aircraft carrier for Indian Navy. The contract value is above Rs 3,000 crore.

The phase-III contract covers the operational and harbour acceptance trials of various equipments and systems