Cochin Shipyard awarded contract by Indian Navy, declared as L1 bidder

14 Jun 2023 CW Team

Cochin Shipyard Limited (CSL) has received communication from the Ministry of Defence, announcing that it has been declared as the L1 (lowest) bidder by the Indian Navy for the MR/Mid Life Upgrade of an Indian Naval Ship. The final contract will be executed in the appropriate timeframe. The estimated value of the contract is approximately Rs 3 billion, with an expected duration of around 24 months.

As of the latest trading session, shares of Cochin Shipyard Limited were trading on the Bombay Stock Exchange (BSE) at Rs 540.30, slightly lower than the previous closing price of Rs 544.70. Throughout the day, a total of 67,985 shares were traded in over 2,771 transactions. The stock reached an intraday high of Rs 554.40 and an intraday low of Rs 533.80, with a net turnover of Rs 36,84,72,84.00.

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