Cochin Shipyard (CSL) has emerged as the L1 bidder for 16 X ASW SWC Project for the Indian Navy. The contract for eight vessels at a cost of about Rs 54 billion is expected to be concluded with the Ministry of Defence after due process. The order was bagged against a competitive tender issued by the Ministry of Defence in which both private and public sector yards had participated.

Total volume of shares traded on the bourses today was lower by 91.11% to 76,467 compared with 22-day average volume of 860,512.

Shares of the company gained Rs 38.90, or 7.54%, to trade at Rs 557.00. The total volume of shares traded was 21,446 at the BSE (2.30 p.m., Tuesday).