Cochin Shipyard (CSL) saw its share price reach a 52-week high of Rs 1,135.55 during early trading on April 8, following the company’s signing of the master shipyard repair agreement (MSRA) with the United States Navy.
As of 09:33 am, Cochin Shipyard was trading at Rs 1,107.35, marking an increase of Rs 26.70 or 2.47 percent on the BSE.
The MSRA, a non-financial agreement, will enable CSL to carry out repairs on US Naval vessels under the Military Sealift Command.
CSL’s qualification for the MSRA came after a comprehensive evaluation and capability assessment conducted by the US Navy – Military Sealift Command.
Earlier in February, the company secured a contract with the Indian Navy for the medium refit of two naval vessels, valued at Rs 150 crore. This contract encompasses dry-docking, refit, and equipment upgrade services.
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