Cochin Shipyard stock jumps over 4% on Rs 550 crore order win | Business Upturn

Cochin Shipyard stock jumps over 4% on Rs 550 crore order win

Shares of Cochin Shipyard jumped over 5% intraday after the company bagged order worth Rs 550 crore.

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Shares of Cochin Shipyard surged over 5% in trade today after the company bagged order from Netherlands-based Samskip group worth Rs 550 crore for building 2 container vessels. The order also states that it has option for 2 more vessels. Cochin Shipyard stock ended up 3.4% or Rs 15 at Rs 459 on the BSE.

The company said that the ships are intended to serve the European market and that sustainable transportation solutions are in high demand in Europe. “We would like to inform that CSL has bagged an order from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, Lysaker Norway, Companies in the Samskip Group, headquartered in the Netherlands, for the design and construction of a total of two nos. of Zero Emission Feeder Container Vessels with an option for two more vessels,” the company said in an exchange filing.

The first vessel of the order is to be delivered in 28 months and the second to be delivered within 34 months. “These ships can carry abt. 365 Nos. of 45-feet long high cube containers and are intended to serve the European Market where sustainable transportation solutions are in high demand,” the company added.

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