2:1 Stock Split: Multibagger PSU Defence Stock Hits 52-Week High, Gains 21.18% In 30-Days

Shares of mid cap PSU Defence company Cochin Shipyard Ltd shares hit 52-week high for second consecutive day today. Last trading price of Cochin Shipyard shares on BSE is Rs 1359.30 apiece with intraday fall of 1.10%.

Cochin Shipyard shares gained 11.06% in last 1-week and soared 134% in last 6-months. Cochin Shipyard also declared dividend of Rs 8 per share for FY 2023-24 and traded ex-dividend on November 20, 2023. Check details below:

Cochin Shipyard Signs Contract with MoD for Short Refit of Indian Naval Ship: According to the BSE filing of the company dated December 20, 2023, "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 Sets Record Date For 2:1 Stock Split: As per the BSE filing of the company 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 Stock Performance & Return: Last trading price of Cochin Shipyard share on BSE is Rs 1359.30 apiece. Its 52-week high price is Rs 1409.00 per share and 52-week low price is Rs 411.00 per share, respectively. Cochin Shipyard has a market capitalisation of Rs 17,880.29 crore. Cochin Shipyard shares offered return of soared 25% in last 3-months, gained 156% year-to-date, offered return of 147% in last 1-year, and gained 306% in last 2-years. Cochin Shipyard offered rally of 287% in last 3-years. In last 5-years, Cochin Shipyard shares surged 259%.

Cochin Shipyard Shares Traded Ex-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 Ltd Latest Financials Results: The large cap 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 period of last fiscal. Its revenue from operations for the quarter under consideration announced 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 jumped 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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