India's Cochin Shipyard falls after govt plans stake sale at discount

Garden Reach Shipbuilders & Engineers

16/10/2024 04:52

** Shares of Cochin Shipyard  COCH.NS  slump 3.4% to 1,615
rupees 
    ** Indian government set to offload about 5% stake in the
shipbuilding firm at an ~8% discount on last close 
    ** The government held a 72.86% stake in COCH, as of June 30
    ** Stock up ~147% YTD as of last close, vs a 103% rise in
rival Garden Reach Shipbuilders  GRSE.NS  YTD 
 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))