Rs 22,000 crore order book and 400 per cent returns: This multibagger ship-building stock bags a new order from the Indian Navy worth Rs 150 crore!
Shares of the company gained over 170 per cent in the last six months.
Cochin Shipyard Limited (CSL) has signed a contract with the Indian Navy to perform medium refits on two of their naval vessels. The contract is worth approximately Rs 150 crores and includes dry-docking, refitting, and upgrading equipment on the ships.
This marks a significant achievement for CSL, showcasing its capabilities in ship repair and maintenance. It also underscores the Indian Navy's growing emphasis on domestic sources for its shipbuilding and repair requirements.
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Cochin Shipyard Limited (CSL) has a strong order book of Rs 22,000 crore as of November 30, 2023, driven by large-sized orders from the Ministry of Defence and commercial clients in Europe. The company also plans to foray into the small and mid-sized commercial segment vessels through its wholly-owned subsidiaries.
Cochin Shipyard Limited has also delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 173.33 on February 05, 2021, to Rs 915.70 on February 05, 2024, an increase of about 420 per cent in a three-year holding period.
Cochin Shipyard Limited (CSL) operates a shipyard designed and constructed under technical collaboration with Mitsubishi Heavy Industries, Japan. The yard commenced shipbuilding operations in 1978 and ship repair in 1981. CSL has a shipbuilding dry-dock, which is capable of handling ships up to 110,000 DWT, and a ship repair dry-dock, which can handle ships up to 125,000 DWT. CSL is a GoI-owned Miniratna CPSE under the administrative control of the Ministry of Ports, Shipping, and Waterways.
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.
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