Cochin Shipyard gets LoA from Kochi Metro Rail for building 23 boats; stock gains 3%

These boats will provide inland transportation using electric/ hybrid technology.

Sep 05, 2019 09:09 IST India Infoline News Service

Cochin Shipyard Limited (CSL) said in the filing that it has received the Letter of Acceptance (LoA) from Kochi Metro Rail Limited (KMRL) for building 23 boats for the Kochi Water Metro Project.

These boats will provide inland transportation using electric/ hybrid technology. On the whole, KMRL has a requirement of around 78 high-quality boats of international standards. Out of this, 23 boats having a capacity of 100 PAX was tendered by KMRL in which CSL also participated, the company said.

The contract is yet to be executed and the status of the same will be updated. This is for dissemination of information widely to the members, it added.

Cochin Shipyard Ltd is currently trading at Rs347.30, up by Rs9.2 or 2.72% from its previous closing of Rs338.10 on the BSE.

The scrip opened at Rs342.05 and has touched a high and low of Rs349.95 and Rs340 respectively.

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