On December 03, 2024, Cochin Shipyard’s share price traded 2.19% higher at ₹1,692 on the NSE at 10:15 AM, after opening at ₹1,720, up from the previous close of ₹1,655.75. The stock has gained 21.40% in the last 5 days. Last Thursday, it hit its 5% upper circuit limit for the fourth consecutive session, showcasing strong investor confidence.
On December 2, 2024, Cochin Shipyard Limited (CSL) disclosed that it has secured a contract with the Ministry of Defence (MoD) for the short refit and dry docking of a major Indian naval vessel.
The project, estimated to be worth over ₹1,000 crore, is expected to be completed in around 5 months.
There are no related party transactions involved in the contract, and CSL’s promoters, promoter group, or affiliated companies have no stake in the awarded entity.
Cochin Shipyard reported a 4% year-on-year increase in net profit, reaching ₹189 crore for the second quarter ending September 30, 2024, up from ₹182 crore in the same quarter of the previous fiscal, according to a regulatory filing.
The company’s revenue from operations rose by 13%, amounting to ₹1,143.2 crore, compared to ₹1,011.7 crore in the corresponding period last year. This growth highlights Cochin Shipyard’s solid performance across its core business segments.
Cochin Shipyard has expanded its operations to include the construction of floating structures and the production of marine equipment.
With a robust infrastructure for shipbuilding, the company provides specialised services, positioning itself as one of the largest and most efficient shipyards in India. Additionally, Cochin Shipyard is committed to improving sustainability by incorporating green initiatives into its operations.
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.
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