PSU majors bag new contract orders from Defence Ministry, stocks in focus on Dec 21; check details
Two major defence public-sector undertakings (PSUs) – Mazagon Dock Shipbuilders and Cochin Shipyards have bagged new contract orders from the Ministry of Defence on Wednesday, December 20. The defence PSU majors will remain in focus in tomorrow’s session (December 21) as the announcement of the order receipts came after market hours on Wednesday.
Mazagon Dock Shipbuilders said it will be constructing and supplying six vessels to the Indian Coast Guards for about ₹1,600 crore. The company said it has signed a contract with the acquisition wing of the Ministry of Defence for the construction and delivery of six Next-Generation Offshore Patrol Vessels (NGOPVs).
Cochin Shipyard said in its regulatory filing it signed a deal with the Ministry of Defence for a value of ₹488.25 crore. The work package includes repair and maintenance of the equipment and systems onboard the naval vessel.
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Published: 20 Dec 2023, 08:42 PM IST
