Pipavav Defence gains on pact with French shipbuilder DCNS

Pipavav Defence and Offshore is trading higher by 2% at Rs 81.80 in opening trades after the company tied up with French naval shipbuilder DCNS for technology transfer.

“The focus of teaming together is to build the most modern assets, including modern warships for the Indian Navy and the Coast-Guard,” Pipavav Shipyard said in a filing.

DCNS is a global major in naval defence and an innovative player in energy. DCNS designs, builds and supports surface combatants, submarines and mission-critical systems and equipment.

A combined around 48,000 shares have changed hands on the counter in morning trades on both the exchanges.