Cochin Shipyard is doing pretty well today, rising over 4% to hit an intraday high at Rs.395.90, which is not too far from its 52-week high of Rs.396.30.
The stock has reacted positively to the news it has been declared lowest bidder by the Indian Navy for construction of six missiles.
The estimated total order value is around Rs 10,000 crore.
The market is also happy about it declaring a second interim dividend of Rs 4/share for FY21. The first interim dividend was of Rs.9/share. In FY20, the company had declared a total dividend of Rs.15/share or 150%.