This shipyard PSU multibagger skyrockets over 13%; railway PSU soars 8% after order wins; do you have them in your portfolio?

Cochin Shipyard rose 13.40 per cent, while RVNL soared over 7.90 per cent on BSE on Tuesday (May 14, 2024) after both companies won different orders. 

While Cochin Shipyard has won a significant order from a European client, RVNL has received an order from Southern Railways.

Here's how their shares were trading in the first session after winning respective orders. 

Cochin Shipyard share price

After closing at Rs 1195.00 in the session on Monday, Cochin Shipyard soared by 13.40 per cent to Tuesday's high of Rs 1,355.00.

Cochin Shipyard shares closed trading up by 12.33 per cent, or Rs 147.35.30, at Rs 1,342.35 each on Tuesday.

Cochin Shipyard order

CSL has bagged a large order from a European client for the design and construction of a Hybrid Service Operation Vessel (Hybrid SOV) with an option for two more such vessels, the company said in a statement. 

"The vessel is equipped with hybrid battery systems to improve the energy efficiency and reduce the carbon foot prints. The vessel is designed and built for the service, maintenance and operational needs of the offshore wind farm industry in the European market where sustainable energy solutions are in high demand," the company said. 

The project is expected to be completed by the end 2026, Cochin Shipyard said.

The cost of the order is Rs 500 crore-Rs 1,000 crore.

RVNL share price

The stock that closed at Rs 255.80 in the previous session soared by 7.90 per cent to the day's high of Rs 276.05 on Tuesday.

RVNL shares closed trading higher by 7.10 per cent, or Rs 18.15, at Rs 273.95 each on Tuesday. 

RVNL's order

In a statement on Monday, RNVL said: "Rail Vikas Nigam Limited has received Letter of Acceptance from Southern Railway for “Provision of Automatic Block Signaling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway.”

The project cost including GST is Rs. 2,39,09,95,615.92 (Rs 239 crore). 

The duration to complete the order is 12 months.