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Cochin Shipyard surges on signing MoU with Fincantieri

Cochin Shipyard is currently trading at Rs. 358.05, up by 7.20 points or 2.05% from its previous closing of Rs. 350.85 on the BSE.

The scrip opened at Rs. 355.00 and has touched a high and low of Rs. 358.75 and Rs. 355.00 respectively.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 491.15 on 20-Jan-2020 and a 52 week low of Rs. 209.00 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 376.40 and Rs. 332.00 respectively. The current market cap of the company is Rs. 4615.09 crore.

The promoters holding in the company stood at 72.86%, while Institutions and Non-Institutions held 11.17% and 15.97% respectively.

Cochin Shipyard has signed a Memorandum of Understanding (MoU) with Italy’s Fincantieri for co-operation in the areas of Design, Ship Building, Ship Repair, Marine Equipment Manufacturing, besides Training & Skill Development.

This Agreement sets the ground for a strategic partnership aimed at business development for mutual benefit as well as potential indigenization in the identified areas of cooperation in line with the ’Atmanirbhar Bharat’ and ‘Make in India’ vision of government. From an innovation standpoint, this agreement will kick-start the development of cutting-edge solutions in strategic advanced sectors in India, aimed at offering latest technology products both for the Indian as well as global markets.

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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