Cochin Shipyard rallied 3.74% to Rs 1,636 after the company announced that it has signed a contract worth Rs 1,000 crore with the Ministry of Defence (MoD), Government of India.
The contract is for short refit and dry docking of a large Indian Naval vessel. The estimated duration for the project is around 5 months.Cochin Shipyard is engaged in shipbuilding & ship repair. As of 30 September 2024, the Government of India held 72.86% total voting rights in the company.
The companys consolidated net profit rose 4.07% to Rs 188.92 crore on 13% increase in net sales to Rs 1,143.20 crore in Q2 FY25 over Q2 FY24.
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