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Cochin Shipyard shines on entering into MoU with USC to boost water transportation

Cochin Shipyard is currently trading at Rs. 379.90, up by 10.90 points or 2.95% from its previous closing of Rs. 369.00 on the BSE.

The scrip opened at Rs. 366.60 and has touched a high and low of Rs. 391.00 and Rs. 364.00 respectively. So far 18829 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 598.90 on 24-Nov-2017 and a 52 week low of Rs. 356.00 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 391.00 and Rs. 356.00 respectively. The current market cap of the company is Rs. 5164.89 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 14.13% and 10.87% respectively.

Cochin Shipyard has entered into a memorandum of understanding (MoU) with Russian firm United Shipbuilding Corporation (USC) to boost water transportation in India.

As per the MoU, USC will engage in development of the state-of-the-art vessels for inland and coastal waterways in the country. The company and USC aim to develop high-speed vessels, river-sea cargo vessels, passenger vessels, dredgers, and other watercraft for inland waterways and coastal shipping in India.

Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India. The company caters to clients engaged in India’s defence segment and global commercial shipping sector.

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