Pipavav Shipyard wins Rs 2500 cr order from Indian navy; stock rises

Pipavav Shipyard has won a Rs 2500 crore order from the Indian navy to manufacture gun boats. The order was cleared by the Cabinet committee of security

| May 23, 2011, 10.39 AM IST

MUMBAI: Pipavav Shipyard has won a Rs 2500 crore order from the Indian navy to manufacture gun boats. The order was cleared by the Cabinet committee of security. Nikhil Gandhi, the CMD of Pipavav Shipyard confirmed the news to ET NOW.

"I havn't received any formal communication yet, but yes we have won the order as we were the lowest bidder," Gandhi told ET NOW.`

At 10:36 am, shares of Pipavav Shipyard were trading 2.26 per cent up at Rs 86.00 on the Bombay Stock Exchange.

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