Russian Order: Pipavav Defence jumps 6% in early trade

The stock is trading higher on the BSE on buzz of Russia selected company for a 'Make in India' naval frigate order.

Pipavav Defence & Offshore Eng has jumped 4.5 percent at the opening bell on the BSE on the back of positive news flow.

According to a media reports, Russia has selected Pipavav shipyard for a 'Make in India' naval frigate order that is likely to exceed $ 3 billion.

The stock is now up 6.7 percent at Rs. 64.10. The BSE counter has witnessed huge volume of around 1.1 million, as against two-week daily average volume of 117,000 shares.

Meanwhile, the Sensex has jumped 120 points at 28,319.