Share price of public sector firm Cochin Shipyard rose in trade today after the defence sector firm inked contracts with a JSW Group firm for construction and delivery of four 8000 T Mini Bulk Carriers. Cochin Shipyard share price rose 4.10% to 378.50 compared to the previous close of 363.60 on BSE.
Cochin Shipyard share price has been gaining for the last four days and risen 9.03% during the period.
Cochin Shipyard turnover rose to Rs 39.01 lakh with 10,000 shares changing hands on BSE.
Cochin Shipyard share price was trading above its 50-day moving average of 356.02 and below its 200-day moving average of 382.93 levels, respectively.
Cochin Shipyard has inked the deal with Utkarsh Advisory Services, Mumbai. The vessels will be built at the Cochin Shipyard's yard at Kochi and are to be delivered within December 2020.
On Friday, share price of Cochin Shipyard closed at Rs363.60, up by Rs15.95 or 4.59% from its previous closing of Rs 347.65 on the BSE.
Cochin Shipyard is an India-based company focused on catering to clients engaged in the defence sector in India and clients engaged in the commercial sector. In addition to shipbuilding and ship repair, the company offers marine engineering training.
The company's docks include ship repair dock and shipbuilding dock. Ship repair dock is enables to accommodate vessels with a maximum capacity of 125,000 DWT. The company has built a variety of vessels ranging from bulk carriers, tankers and passengers ships to offshore support vessels and port crafts.
Edited by Aseem Thapliyal