Cochin Shipyard Ltd signs Phase III contract of Indigenous Aircraft Carrier for Indian Navy

Cochin Shipyard Limited has signed the Phase-III contract for Construction of the Indigenous Aircraft Carrier on October 31, 2019. The Phase-III contract covers the operational and harbour acceptance trials of various equipment 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 & aviation trials.

The contract was signed at the Ministry of Defence between Ms. Nidhi Chhibber, Joint Secretary & Acquisition Manager(Maritime Systems), MoD and Shri Suresh Babu N V, Director (Operations), CSL.

The contract value is above Rs. 3,000 crores.

Shares of Cochin Shipyard Ltd was last trading in BSE at Rs.390.1 as compared to the previous close of Rs. 396.1. The total number of shares traded during the day was 22466 in over 1189 trades.

The stock hit an intraday high of Rs. 408 and intraday low of 388. The net turnover during the day was Rs. 8911701.