2:1 Stock Split, Rs 8/Share Dividend: Multibagger PSU Defence Stock Rallies 11.47% Today

After trading ex-split in the ratio of 2:1 and ex-dividend for Rs 8/share dividend, Large cap company from the Defence sector Cochin Shipyard Ltd shares today hit second consecutive 52-week high in trade on BSE. Cochin Shipyard shares gained 30% in last 2-weeks span and offered shareholders attractive returns of 167% in last 6-months. The company has a market capitalisation of Rs 23,230.03 crore.

Last trading price of Cochin Shipyard share on BSE is Rs 882.65 per share with intraday rally of 11.47% till 11:58 am on Wednesday. Check details below pertaining to Cochin Shipyard:

Cochin Shipyard Stock Performance & Return: Its 52-week high price is Rs 885.05 per share and 52-week low price is Rs 205.50 per share, respectively. Cochin Shipyard shares offered return offered returns of 40% in last 1-month, gained 68% in last 3-months, surged 252% in last 1-year, rose 405% in last 2-years only. In last 3-years, Cochin Shipyard stock zoomed 371%.

Cochin Shipyard Stock Split: Cochin Shipyard shares traded ex-split in the proportion of 2:1 on January 10, 2024. As per the BSE filing dated Dec 14, "Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, the Company has fixed Wednesday, January 10, 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up."

Cochin Shipyard Dividend: As per the regulatory filing of the company dated November 7, 2023, "Declared an interim dividend of Rs. 8.00 per equity share of Rs. 10 each fully paidup (80%) for the financial year 2023-24. Fixed Monday, November 20, 2023 as the Record Date for the aforesaid interim dividend."

Cochin Shipyard Inks Contract with MoD: Earlier last year Cochin Shipyard on December 20, 2023 the company issued its BSE filing stating, "we would like to inform that, the firm contract with MoD has been signed on December 19, 2023 for a value of Rs. 488.25 Crores. The work package includes repair and maintenance of the equipments and systems onboard the naval vessel. The work on the same has already been commenced during Q2 of FY24 based on the Approval of Necessity (AoN) from MoD, and is expected to be completed by Q1 of FY25."

Cochin Shipyard Ltd Latest Financials Results: The leading PSU firm for the quarter ended September announced a surge of approximately 61% in its net profit to Rs 181.5 crore as compared to Rs 112.79 crore in the corresponding quarter of last fiscal. Cochin's revenue from operations for the quarter under review declared at Rs 1011.71 crore, up 48% as against Rs 683.18 crore in the similar quarter of last year. Cochin Shipyard's other income soared Rs 87.56 crore for the quarter under review as against Rs 61.56 crore in the similar quarter of preceding year. Its EBITDA surged 41.2% to Rs 191.2 crore and margin narrowed by 80 basis points to 19% from 19.8%. Growth significantly came from the ship building and repair segment that soared by 48% from last year.

About: Cochin Shipyard was incorporated in the year 1972 as a fully owned Govt of India company. In the last three decades the company has emerged as a forerunner in the Indian Shipbuilding & Ship repair industry. This yard can build and repair the largest vessels in India. It can build ships up to 1,10,000 DWT and repair ships up to 1,25,000 DWT. The yard has delivered two of India's largest double hull Aframax tankers each of 95,000 DWT, according to its official website.

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