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Cochin Shipyard soars on inking contract for anti-submarine warfare shallow water crafts

Mumbai : Cochin Shipyard is currently trading at Rs. 390.00, up by 14.20 points or 3.78% from its previous closing of Rs. 375.80 on the BSE. The scrip opened at Rs. 378.50 and has touched a high and low of Rs. 390.00 and Rs. 378.50 respectively. So far 961 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 534.00 on 02-May-2018 and a 52 week low of Rs. 333.00 on 19-Feb-2019.

Last one week high and low of the scrip stood at Rs. 390.00 and Rs. 374.60 respectively. The current market cap of the company is Rs. 4943.29 crore. The promoters holding in the company stood at 75.21%, while Institutions and Non-Institutions held 12.76% and 12.03% respectively. Cochin Shipyard has signed a contract for construction and supply of eight Anti-Submarine Warfare Shallow Water Crafts (ASWSWCs) for Indian Navy. CSL was the successful bidder (L1) in the tender floated by the Ministry of Defence for this project.

The order value for these eight vessels is pegged at Rs 6,311.32 crore. The first ship is to be delivered within 42 months from contract signing date and subsequent balance ships delivery schedule will be two ships per year. The project will have to be completed within 84 months from date of signing the contract.

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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