Rs 22,000 crore order book & FIIs increase stake; Board likely to announce stock split and dividend!

The stock gave multibagger returns of 105 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent.

Cochin Shipyard Ltd (CSL) informed that a meeting of the Board of Directors of the company is scheduled to be held on Tuesday, November 07, 2023, to inter alia:

(a) Consider and approve the standalone and consolidated unaudited financial results of the company for the quarter and half year ended September 30, 2023.

(b) Consider the declaration of interim dividend to the equity shareholders of the company for the financial year 2023-24.

(c) Consider the sub-division/ stock split of equity shares of the company.

On Friday, shares of CSL plunged 1.78 per cent to Rs 1,005.45 per share with an intraday high of Rs 1,024.70 and a low of Rs 1,000. The stock has a 52-week high of Rs 1,258 and a 52-week low of Rs 411.

Cochin Shipyard Ltd (CSL) is a leading player in the construction of all kinds of vessels, repairs and refits of all types of vessels including periodic upgradation and life extension of ships. The company has a market cap of Rs 13,225 crore and as of June 2023, the company’s order book stands at approx. Rs 22,000 crore. As of the September quarter, FIIs have increased their stake from 5.73 per cent to 5.82 per cent.

The company has been maintaining a healthy dividend payout of 36.8 per cent. The stock gave multibagger returns of 105 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent. Investors should keep an eye on this Mid-Cap shipbuilding stock.

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