India, Feb. 17 -- A mid- cap stock surged by 7 percent as the company in the business of shipbuilding, repair, and marine engineering emerged as the L1 bidder for a Rs 5,000 crore defence order to build five advanced survey vessels, strengthening its role in India's naval manufacturing ecosystem.

With its market cap around Rs 40,000 Cr, Cochin Shipyard Ltd saw its stock hit an intraday high of Rs 1575 which is 7 percent higher than the previous close of Rs 1468. The company stock has given a compounded return of 82 percent in the last three years.

News Cochin Shipyard Limited has been declared the L1 bidder by the Ministry of Defence for constructing five Next Generation Survey Vessels for the Indian Navy. The total estimated contract v...