Introduction:
PSU stock has signed an MOU with Seatrium Letourneau USA to develop jack-up rig designs and equipment for the Indian market. The collaboration aims to strengthen local manufacturing, support the “Make in India” initiative, and meet demand in the offshore oil and gas sector.
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Share price movement of Cochin Shipyard Limited:
On November 25, 2024, Cochin Shipyard Ltd. opened at ₹1,357.00, reflecting a 4.51% increase from its previous close of ₹1,298.50. The stock reached an intraday high of ₹1,360.45, up 4.77%, and an intraday low of ₹1,324.50, rising 2.00%.
By 10:36 AM, it was trading at ₹1,360.45, reflecting a 4.77% increase. The market capitalization for the day stood at ₹35,790.82 crore.
Cochin Shipyard Signs MOU with Seatrium Letourneau USA for Jack-Up Rig Design
Cochin Shipyard Limited (CSL) has entered an MOU with Seatrium Letourneau USA, Inc. (SLET) to develop jack-up rig designs and critical equipment for the Indian market, leveraging both companies’ expertise.
The collaboration combines CSL’s shipbuilding experience with SLET’s advanced technical design capabilities to meet the demand for Mobile Offshore Drilling Units (MODUs) in India, aligning with the government’s “Make in India” initiative.
This partnership aims to capitalize on growth opportunities in India’s offshore oil and gas sector, strengthening local manufacturing and contributing to the nation’s self-reliance in energy exploration.
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Recent news on Cochin Shipyard Limited:
As of Nov 22, 2024, Cochin Shipyard Limited (CSL) allocated ₹50 lakh from its CSR fund to purchase essential equipment for the Government Medical College Hospital, Ernakulam. The equipment includes a sterile connecting device for the blood bank and a polysomnography machine for the Pulmonology Department.
Stock performance of Cochin Shipyard Limited for Period of 1 week, 6 months and 1 year:
Cochin Shipyard Limited has experienced a 0.17% decline over the past week and a significant 35.6% drop over the last six months. However, the company has shown strong growth with a 132% return over the past year, indicating long-term positive performance.
Shareholding pattern of Cochin Shipyard Limited:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 72.90% | 72.90% | 72.90% |
| FII | 3.80% | 4.90% | 5.20% |
| DII | 3.00% | 2.50% | 2.50% |
| Public | 20.30% | 19.70% | 19.50% |
About the company Cochin Shipyard Limited:
Cochin Shipyard Limited (NSE: COCHINSHIP) is a leading public sector enterprise specializing in shipbuilding, repair, and offshore fabrication. The company provides high-quality services for both commercial and defense sectors, contributing to India’s maritime industry with state-of-the-art facilities and engineering 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.
