52-week high alert and Rs 22,000 crore order book: Multibagger ship building company announces stock split and bags new order worth Rs 488.25 crore!

Shares of the company gained over 120 per cent in the last six months.

Cochin Shipyard Limited has announced a stock split, exciting investors with the prospect of increased liquidity and potential price appreciation. Each existing 1 equity share with a face value of Rs 10 each fully paid up will split into 2 equity share with a face value of Rs 5 each fully paid up, essentially doubling the number of shares outstanding. This move aims to make the stock more affordable and accessible to a wider range of investors, potentially boosting trading volume and demand. The record date for the sub-division of the equity shares is fixed on, January 10, 2024.

Recently, Cochin Shipyard Limited informed in the exchange filing that the company has bagged a Rs 488.25 crore contract with the Ministry of Defence on December 19th for naval vessel repairs.

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This news comes amidst a positive outlook for the Indian shipbuilding industry, with Cochin Shipyard at the forefront. The company’s order book remains strong, and their focus on diversifying into niche segments like offshore wind and defence projects adds further optimism. The stock split, coupled with these growth drivers, could fuel a rally in the coming months, making Cochin Shipyard an attractive proposition for investors seeking exposure to this dynamic sector. The stock also made a fresh 52-week high today.

The company has a strong order book of Rs 22,000 crore, and the shares of the company have delivered multibagger returns of over 140 per cent in a year.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.