Cochin Shipyard gains 7% in weak market on winning Rs 550 cr overseas order

The company has received an order of Rs 550 crore from Norway-based global logistics solution provider Samskip Group.

Shares of Cochin Shipyard rallied 7 per cent to Rs 473.65 on the BSE in Monday’s intra-day trade in an otherwise weak market after the company said it received an international order of Rs 550 crore from Norway-based global logistics solution provider Samskip Group.

At 09:21 AM; the stock was trading 4 per cent higher at Rs 462.40, as compared to 0.90 per cent decline in the S&P BSE Sensex.
Cochin Shipyard said the company has bagged order from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, Lysaker Norway, Companies in the Samskip Group, headquartered in Netherlands, for the design