Introduction:
Prominent shipbuilding firm has secured a significant contract with the Ministry of Defence for the short refit and dry docking of a large Indian naval vessel, valued over ₹1,000 crore, with an estimated completion time of five months.
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Share price movement of Cochin Shipyard:
On December 2, 2024, Cochin Shipyard Limited opened at ₹1,630.00, up 3.39% from ₹1,576.95. The stock reached a high of ₹1,655.75 (5.00%) and a low of ₹1,611.05. By 9:53 AM, it traded at ₹1,655.75, a 5.00% increase, with a market cap of ₹43,559.60 crore.
CSL wins ₹1,000 crore contract:
Cochin Shipyard Limited (CSL) has signed a contract with the Ministry of Defence (MoD) for the short refit and dry docking of a large Indian naval vessel. The contract is valued above ₹1,000 crore, marking a significant achievement.
The project is expected to be completed within an estimated duration of five months. CSL’s strong track record in shipbuilding and maintenance for the Indian Navy has helped secure this major contract, reinforcing its position as a leader in naval infrastructure services.
CSL confirmed that neither the promoters nor the group companies have any interest in the entity awarding the contract. Additionally, the order does not fall under the purview of related party transactions, ensuring its independent and transparent nature.
Recent news on Cochin Shipyard:
As of November 25, 2024, Cochin Shipyard shares hit the 5% upper circuit at ₹1,363.40 after the company signed an MoU with Seatrium Letourneau USA for designing and supplying critical equipment for jack-up rigs in the Indian market.
Stock performance of Cochin Shipyard for Period of 1 week, 6 months and 1 year:
Cochin Shipyard has shown strong performance, with a 15.6% return over the past week. Despite a 6.37% decline over the last six months, the company boasts an impressive 170% return over the past year, highlighting substantial growth.
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Shareholding pattern of Cochin Shipyard:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 72.90% | 72.90% | 72.90% |
| FII | 3.80% | 5% | 5.20% |
| DII | 3% | 3% | 2.50% |
| Public | 20.30% | 19.70% | 19.50% |
About Cochin Shipyard:
Cochin Shipyard Limited (NSE: CSL) is a leading Indian shipbuilding and maintenance company, specializing in constructing and repairing large vessels, including naval ships, oil rigs, and other marine structures. It is a key player in the maritime industry with global expertise.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
