Cochin Shipyard share price rose in trade today after the firm inked a contract worth Rs 3,000 crore.Cochin Shipyard share price climbed 8.02% to its fresh 52-week high of Rs 420.20 compared to the previous close of Rs 388.95 on BSE. Cochin Shipyard share price is trading higher than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The mid cap stock has gained 22.33% in last one month and 10% in one week. It hit its 52-week low of Rs 320 on October 15, 2019.
The firm has inked the Phase-III contract for construction of the indigenous aircraft carrier on October 31, 2019.
Under the deal, the Phase-III of 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 and aviation trials.
On October 30, the firm said it bagged order worth Rs 175.70 crore for design and construction of 23 hybrid-electric passenger ferries was signed between Cochin Shipyard Limited (CSL) and Kochi Metro Rail Limited (KMRL) on October 29, 2019 at Kochi. The stock closed over 1% higher at Rs 396.10 on same day.