Cochin Shipyard shares fell 8 per cent intraday as Q2 profit and operating margin fell. The company also declared an interim dividend of ₹4 per equity share
NSE India Defence index was quoting higher for the third straight trading day, surging 3.7% during the period, as against 0.14% decline in the Nifty 50.
R&D spending by India's defense PSUs over the next five years is slated to increase with a projected expenditure of ₹32,766 crore, exceeding ₹30,952 crore invested in the past 10 years.