Cochin Shipyard surges 2 percent on inking maintenance contract

Cochin Shipyard today informed the bourses that it has signed Annual Maintenance Contract (AMC) with Kerala Coastal Police for the repairs and maintenance of 23 coastal interceptor boats. The AMC agreement is for 5 years.

Ship building segment contributes 54 per cent to the overall revenue of the company, whereas ship repair segment contributes 39 per cent. Also, the order book as on September 30, 2018, stood at Rs 4,658.94 crore. During the latest quarter, it has posted significant jump in revenue and PAT by 37 per cent YoY and 47 per cent YoY, respectively.

Cochin Shipyard provides shipbuilding and ship repair services and also offers marine engineering training.

On Wednesday, the stock opened at Rs. 364.80 and jumped by 2 per cent and made an intra-day high of Rs 373 and finally closed at Rs 367.05 on the BSE. The company had hit its 52-week high of Rs 569.75 on January 11, 2018, and 52-week low of Rs 356 on October 9, 2018 on the BSE.