Cochin Shipyard shares rally 6% after emerging L1 bidder for Rs 5,000 crore Navy contract

Cochin Shipyard's shares climbed significantly after being declared the lowest bidder for a substantial Rs 5,000 crore defence contract. The company is set to construct five Next Generation Survey Vessels for the Indian Navy, marking a major milestone. While the formal contract award awaits procedural completion, this development signals a significant potential order for the state-owned shipbuilder.