FRANKFURT (dpa-AFX Broker) - Shares of TKMS surged on Monday, buoyed by ongoing prospects of securing a major contract from India. By late morning, the stock had climbed 5.7 percent, topping the MDax index of mid-cap companies. This marks a continuation of the recent upward trend: since the start of the year, the stock has already gained nearly a third in value. Meanwhile, shares of parent company Thyssenkrupp remained largely unchanged at the beginning of the week.
India plans to collaborate with TKMS in Mumbai to build six submarines worth eight billion euros. The signing of an agreement is expected soon, which could also pave the way for further cooperation. Germany aims to strengthen its partnership with India in the defense sector, seeking to reduce India's reliance on Russian arms supplies./niw/stk/mis
