India's Cochin Shipyard rises most in nearly 3 months on $66.7-mln order win

Cochin Shipyard

20/03/2023 04:16

** Shares of shipbuilding and maintenance facility Cochin
Shipyard Ltd  COCH.NS  up as much as 6.5% to 472.70 rupees,
their biggest intra day pct gain since Dec. 26
    ** Stock at highest level since March 9, 2023
    ** Co wins order worth 5.50 bln rupees ($66.7 mln) for
design and construction of two zero emission feeder container
vessels, with first vessel to be delivered in 28 months and the
second in 34 months
    ** COCH on track to rise for second straight session, if
gains hold
    ** Over 560,000 shares change hands by 09:38 a.m. IST, 1.3x
the 30-day moving avg
    ** As of last close, stock down ~17% so far this year,
reversing its ~50% gain in 2022


($1 = 82.4900 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))