Multibagger PSU Defence Stock: Cochin Shipyard shares surge over 4% - Should you buy? Check Share Price Target

Cochin Shipyard Share Price Target 2024: Shares of Cochin Shipyard, a public sector undertakings (PSU) defence company, surged over 4 per cent on Wednesday i.e. February 28. The counter opened at Rs 867.95 and went on to hit the day's of Rs 900, which is a surge of around 4.25 per cent from the previous close of Rs 853.75.

The surge in share price, after two days of consecutive fall, comes on a day Prime Minister Narendra Modi is scheduled to inaugurate India's first indigenously developed hydrogen fuel cell ferry - which has been constructed by Cochin Shipyard Ltd. The vessel will be inaugurated by PM Modi virtually from Thoothukudi.  

This Zero Emission, Zero Noise Vessel is a revolutionary step towards India becoming a Hydrogen Fuel Vessel Manufacturer. 

Cochin Shipyard Share Price Target 2024: Should you buy?

ICICI Direct Research gave a 'Buy' call on Cochin Shipyard shares on February 23 with a target price of Rs 915 in the next 14 days. The stoploss suggested by ICICI Direct Research is Rs 806.

Cochin Shipyard Share Performance

Shares of Cochin Shipyard, which has a 52-week high of Rs 944.65 and a 52-week low of Rs 205.50, have given a multibagger return of 108 per cent in six months and 290 per cent in one year. The company has a market cap of Rs 23,189 crore.

The stock has rallied more than 6 per cent in one week as against a 0.75 per cent jump in Sensex.

Cochin Shipyard Dividend 2024

Earlier, the PSU announced a dividend of Rs 3.50 or 70 per cent per equity share to its investors. 

Cochin Shipyard Dividend 2024 Payment Date

Cochin Shipyard has informed the exchanges the dividend will be paid to eligible shareholders on or before February 28.

Cochin Shipyard Stock Split

Shares of Cochin Shipyard were recently sub-divided into two. The stock was split from a face value of Rs 10 to two shares with a face value of Rs 5 each.