Shares of Cochin Shipyard hit a 52 Week high of Rs 419.75, up 8% on the NSE on Friday after the company won contract worth Rs 3000 crore.
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 contract covers the operational and harbor acceptance trials of various equipment’s and systems installed onboard and also the sea trials of the carrier. The contract also covers some activities which are to be undertaken post-delivery of the vessel including support during weapon and aviation trials, the company said.
In the past two weeks, Cochin Shipyard has soared 25%.
On 1st Nov’2019 the shares company closed at Rs. 409.60 up Rs. 20.05 which is 5.15% on NSE with traded volume of 555,507 shares on NSE.