🚢 Cochin Shipyard Share Price Soars Amidst Market Volatility 📈
Today in the business world, Cochin Shipyard’s share price surged by 7% to reach ₹1,438. This marks a 52-week high for the stock and an all-time high as well. Over the past year, the multi-bagger stock has delivered a strong return of 394% and a whopping 733% over the past two years. Just a year ago on May 25, 2023, the stock was trading at ₹234.
As of December 31, 2023, Cochin Shipyard’s total order book stands at ₹21,400 crores. The company has a pipeline of shipbuilding orders worth around ₹9,000 crores. Additionally, they have proposed projects totaling approximately ₹84,000 crores.
On Saturday, May 18, 2024, the share price was trading at ₹1,484, up by 4.87%. With recent initiatives by the Indian government to support and promote self-reliance, the outlook for shipbuilding in the coming years looks very positive.
According to the shareholding pattern, promoters hold a 72.86% stake in the company, while public shareholders hold a 27.14% stake. In the third quarter of FY24, the company reported a net profit of ₹244.4 crores.
In the same quarter last year, the company’s board of directors had declared an interim dividend of ₹3.50 per equity share for the financial year 2023-24.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
