Cochin Shipyard Share Price Hits ₹1,578 with 4.92% Gain Today

On Thursday, Cochin Shipyard Ltd was in the spotlight. On November 28, 2024, on the NSE, Cochin Shipyard share price opened at ₹1,563.00, up from its previous close of ₹1,504.05. At 11:07 AM, the share price of Cochin Shipyard was trading at ₹1,578.00, up by 4.92%.

The stock touched its 52-week high at ₹2,979.45 on July 8, 2024.

Recent Developments 

Recently, on November 22, 2024, the company announced to the stock exchanges that it has signed a Memorandum of Understanding (MOU) with Seatrium Letourneau USA, Inc. (SLET) to design and supply critical equipment for jack-up rigs targeting the Indian market.

Leveraging CSL’s extensive experience in ship construction and engineering along with SLET’s technical expertise, the partnership aims to develop Mobile Offshore Drilling Units (MODUs) tailored to meet the growing needs of the Indian offshore market.

This collaboration aligns with the Indian government’s “Make in India” initiative, which encourages domestic manufacturing and innovation. By combining both companies’ strengths, this venture is poised to enhance the capabilities of India’s offshore drilling sector.

The company has declared an interim dividend of ₹4 per equity share of ₹5 each (80%) for the financial year 2024-25. The Record Date for determining eligible shareholders for the dividend has been set as Wednesday, November 20, 2024. Shareholders who meet the eligibility criteria will receive the interim dividend on or before December 6, 2024.

About Cochin Shipyard Ltd

Cochin Shipyard Limited is a prominent player in the construction of various types of vessels, as well as the repair and refitting of ships, including periodic upgrades and life extension services.

CSL has successfully built and repaired some of the largest ships for its valued clients worldwide and has exported over 45 ships to international markets. The company has developed its expertise in constructing a wide range of vessels, from bulk carriers to smaller ships, as well as more technologically advanced vessels such as Platform Supply Vessels and Anchor Handling Tug Supply Vessels.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.