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Cochin Shipyard gained nearly 4% on its plans to build five advanced vessels for the Indian Navy for ₹5,000 crore.
The deets: the company said it has emerged as the lowest bidder for a Defence Ministry tender to build the vessels for the Indian Navy.
These are modern ships designed to map the ocean floor and collect detailed underwater data. They will replace older vessels and come equipped with advanced sensors and better technology, making them more accurate, efficient, and better suited for today’s naval operations.
The timing: this deal comes right after India moved ahead with one of its biggest defence pushes, including plans to acquire 114 Rafale jets from France, with a significant role for the Navy.
ScanX.trade
