Pipavav Defence up 7% post naval frigate deal with Russia

The contract for the new frigates is likely to be in the form of a govt-to-govt order with Russia. The deal could be signed in this financial year and delivery is expected over the next 6-8 years.

July 16, 2015 / 16:52 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Pipavav Defence moved up 7 percent in the stock market after a section of media reported that the Russian government has chosen Pipavav Shipyard for a 'Make in India' naval frigate. Reports suggest the order is likely to exceed USD 3 billion and Russia has officially informed the defense ministry about the decision. However, CNBC-TV18 has not verified the news.

The record deal is the first deal landed by Pipavav post takeover by Reliance InfraThe contract for the new frigates is likely to be in the form of a govt-to-govt order with Russia. The deal could be signed in this financial year and delivery is expected over the next 6-8 years.

first published: Jul 16, 2015 09:40 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347