Cochin Shipyard shares rise 3% after subsidiary wins order worth Rs 100 to Rs 250 crore
Cochin Shipyard stock opened higher at Rs 1,980 on BSE. Total 2.57 lakh shares of the firm changed hands amounting to a high turnover of Rs 50.22 crore on BSE.
- May 31, 2024,
- Updated May 31, 2024 2:58 PM IST
Shares of Cochin Shipyard rose nearly 3% on Friday after the firm said it's subsidiary won an order worth Rs 100 to Rs 250 crore. Cochin Shipyard stock gained 2.72% to Rs 2010 against the previous close of Rs 1956.75 on BSE. Market cap of the defence stock rose to Rs 51,720 crore.
Cochin Shipyard stock opened higher at Rs 1,980 on BSE. Total 2.57 lakh shares of the firm changed hands amounting to a high turnover of Rs 50.22 crore on BSE. Cochin Shipyard has a one-year beta of 0.9, indicating very low volatility during the period.
The stock has delivered multibagger returns of 224.34% in the last six months and risen 688.20% in a year.
In terms of technicals, the relative strength index (RSI) of the stock stands at 76.2, signaling the stock is trading in the overbought zone. Cochin Shipyard shares are trading higher than the 5 day, 10 day, 50 day, 100 day and 200 day moving averages.
"Udupi Cochin Shipyard Limited (UCSL), a wholly owned subsidiary of Cochin Shipyard, has won a notable order from Ocean Sparkle Limited, an Adani Harbor Services Limited Company, for the construction of three ASD (Azimuthing Stern Drive) Tugs of 70 T Bollard Pull Power," said the defence firm in a commuunication to bourses.
“We are extremely happy to be chosen again as the preferred partner by Ocean Sparkle Limited and Polestar Maritime Limited for construction of tugs for augmenting their fleet. Both CSL and our subsidiary UCSL are committed to delivering high quality tugs benchmarking construction cycle time with emphasis on sustainable solutions, to serve the evolving maritime eco system,” said Madhu Nair, CMD, CSL, who is also the Chairman of UCSL.
Shares of Cochin Shipyard rose nearly 3% on Friday after the firm said it's subsidiary won an order worth Rs 100 to Rs 250 crore. Cochin Shipyard stock gained 2.72% to Rs 2010 against the previous close of Rs 1956.75 on BSE. Market cap of the defence stock rose to Rs 51,720 crore.
Cochin Shipyard stock opened higher at Rs 1,980 on BSE. Total 2.57 lakh shares of the firm changed hands amounting to a high turnover of Rs 50.22 crore on BSE. Cochin Shipyard has a one-year beta of 0.9, indicating very low volatility during the period.
The stock has delivered multibagger returns of 224.34% in the last six months and risen 688.20% in a year.
In terms of technicals, the relative strength index (RSI) of the stock stands at 76.2, signaling the stock is trading in the overbought zone. Cochin Shipyard shares are trading higher than the 5 day, 10 day, 50 day, 100 day and 200 day moving averages.
"Udupi Cochin Shipyard Limited (UCSL), a wholly owned subsidiary of Cochin Shipyard, has won a notable order from Ocean Sparkle Limited, an Adani Harbor Services Limited Company, for the construction of three ASD (Azimuthing Stern Drive) Tugs of 70 T Bollard Pull Power," said the defence firm in a commuunication to bourses.
“We are extremely happy to be chosen again as the preferred partner by Ocean Sparkle Limited and Polestar Maritime Limited for construction of tugs for augmenting their fleet. Both CSL and our subsidiary UCSL are committed to delivering high quality tugs benchmarking construction cycle time with emphasis on sustainable solutions, to serve the evolving maritime eco system,” said Madhu Nair, CMD, CSL, who is also the Chairman of UCSL.