706% return in 1 year: This defence PSU stock hits all-time high - Check details

Cochin Shipyard Share Price NSE Today: Shares of defence sector PSU company Cochin Shipyard Limited (CSL) hit an all-time high of Rs 2,100 on Monday. The counter opened with a gain of 7.82 per cent from the previous close of Rs 1,947.65 on the National Stock Exchange (NSE). The counter of Cochin Shipyard, which has a market cap of Rs 53,225.19 crore, has a 52-week low of Rs 245.13.

Cochin Shipyard Share Price History

According to BSE analytics, the shares of Cochin Shipyard have given a bumper return of over 700 per cent in 1 year. The stock has made investors wealthier by over 1131 per cent in two years. The counter is already up by 196 this year. 

Cochin Shipyard News

The defence PSU stock is in action after it informed the exchanges that Udupi Cochin Shipyard Limited (UCSL), a wholly owned subsidiary of CSL, has bagged an order from Ocean Sparkle Limited, an Adani Harbor Services Limited Company, for the construction of three ASD (Azimuthing Stern Drive) Tugs of 70 T Bollard Pull Power. 

"The contract, for construction of three ASD (Azimuthing Stern Drive) Tugs of 70 T Bollard Pull Power was signed by Shri Harikumar A, CEO, UCSL and Shri Hiren Shah, MD and CEO, OSL," the company said in an exchange filing.

Earlier, the company PSU secured an order worth €60 million from North Star Shipping, a top UK-based offshore renewable operator, for the construction of hybrid Service Operation Vessels (SOVs).

In a communication sent to the stock market, the company said that its subsidiary Udupi Cochin Shipyard Limited has received an order from Ocean Sparkle Limited which is worth Rs 100-250 crore. This company belongs to the Adani Group. Today the share of Cochin Shipyard is trading flat at the level of Rs 1956. This stock has given bumper returns of 125 per cent in the last 3 months.

They will be building hybrid SOVs for a contract with Siemens Gamesa. These vessels will be deployed at the Scottish Power Renewables East Anglia THREE offshore wind farm, situated off the Suffolk coast, an official release said here. A CSL source said the order is valued at EUR 60 million. It said the ship-building contract also has an option to contract two more such vessels.