Cochin Shipyard signs the Phase-III contract with Indian Navy
Cochin Shipyard Limited on Friday informed that it has signed the Phase-III contract for Construction of the Indigenous Aircraft Carrier for Indian Navy.
Phase-III contract covers the operational and harbour acceptance trials of various equipments and systems installed onboard and also the Sea Trials of the Carrier. The contract also includes some activities which are to be undertaken post delivery of the vessel including support during weapons and aviation trials. The overall contract value is above Rs 3000 crores.
Cochin Shipyard Limited (CSL) is the largest shipbuilding and maintenance facility in India. CSL is mainly engaged in the construction of vessels and repairs and refits of all types of vessels including up gradation of ships, periodical layup repairs and life extension of ships. In the last four decades, the company has emerged as a forerunner in the Indian shipbuilding and ship repair industry and also a well-known player on the global shipbuilding front. The company has built and repaired some of the largest ships in India.
On Friday, the stock of CSL opened at Rs. 393.85 per share and made an intraday high and low of Rs. 420.20 and Rs. 393.85, respectively on the BSE. At 11.10 am, the stock was trading at Rs. 411.95, up by 5.91 per cent.