699% return in 1 year: This multibagger PSU stock gains over 4% after Rs 1,100 crore order win - Do you own?

Cochin Shipyard Share Price NSE, BSE today news: Shares of multibagger company Cochin Shipyard Ltd are in focus on Monday i.e. July 1 as the company has informed exchanges that its wholly-owned subsidiary, Udupi Cochin Shipyard, has won an order from Norway's Wilson ASA. The counter opened gap up at Rs 2272.60 a gain of 2.71 per cent from the previous close of 2212.60. The stock surged further to touch the day's high of Rs 2310.15. This is a gain of 4.41 per cent from the previous close.

Cochin Shipyard Share Price History

Shares of Cochin Shipyard have given multibagger returns to its investors. The counter has surged over 699 per cent in one year and 1348 per cent in two years. The scrip is already up by 231 per cent so far this year.

Cochin Shipyard News

Shares of Cochin Shipyard are in focus as the PSU has informed exchanges that Udupi Cochin Shipyard Limited (UCSL), its wholly owned subsidiary, has won an international order from Wilson ASA, Norway, for the design and construction of four 6300 TDW Dry Cargo Vessels.

"Agreement has also been entered into for additional 4 vessels of the same type which will be formally contracted within September 19, 2024. This is a follow-up order in continuation of the contract awarded in June 2023 for the Design and Construction of six 3800 TDW Dry Cargo Vessels which are now at advanced levels of construction at the yard at Udupi, Karnataka," the filing reads.

Wilson ASA, a company headquartered in Bergen, Norway, is the leading short sea fleet operator in Europe and transports about 15 million tonnes of dry cargo across Europe.

Meanwhile, equity benchmark indices climbed in early trade on Monday amid buying in blue-chip stocks like Reliance Industries and Bharti Airtel along with a rally in Asian markets. The 30-share BSE Sensex rose 69.63 points to 79,102.36 in early trade. The Nifty went up by 37.85 points to 24,048.45.