Cochin Shipyard Bags €200-Crore Mega Order, Shares Bounce Back from Seven-Day Slump

hipyard Ltd., India's premier shipbuilding powerhouse, has secured a landmark €200-crore (approximately Rs 2,000 crore) contract from an undisclosed European client, igniting a fresh rally in its shares after a week of declines. The state-owned defence and maritime giant announced the "mega" order—its term for deals exceeding Rs 2,000 crore—for the design and construction of six advanced feeder container vessels. Each ship will boast a capacity of around 1,700 twenty-foot equivalent units (TEU) and will be propelled by eco-friendly liquefied natural gas (LNG), aligning with global pushes for greener shipping. A letter of intent was inked on Tuesday, with a full-fledged shipbuilding agreement—outlining technical and commercial specifics—expected to follow shortly. In a filing to the BSE and NSE, the company kept the client's identity under wraps, citing commercial sensitivities. The news couldn't have come at a better time for investors. Cochin Shipyard's stock, which had tumbled over the previous seven trading sessions amid broader market jitters, surged as much as 2% intraday before settling 1% higher at Rs 1,780. The rebound caps a stellar year for the scrip, up a robust 15% year-to-date, with its market capitalization swelling to nearly Rs 47,000 crore.