Shares of Cochin Shipyard Limited (CSL) surged by 5% today, closing at Rs 1,656.15, following the announcement of a landmark contract worth over ₹1,000 crore with the Ministry of Defence (MoD). This gain added approximately Rs 2,079 crore to CSL’s market capitalization, now standing at Rs 43,570 crore.
The defense contract involves the short refit and dry docking of a large Indian naval vessel, further solidifying CSL’s role in strengthening India’s defense infrastructure. This milestone emphasizes CSL’s expertise in ship repair and refurbishment, which are crucial for maintaining the Indian Navy’s operational readiness.
This strategic project aligns with the Atmanirbhar Bharat initiative, reinforcing self-reliance in defense manufacturing and maintenance. Investors responded positively to the news, with the stock reaching an intraday high of Rs 1,656.15.
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