Rs 22,000 crore order book and 180 per cent returns: This multibagger ship building company bags new order worth Rs 313.42 crore from Ministry of Defence!

The stock has gained more than 100 per cent in the last six months.

Cochin Shipyard Limited informed in the exchange filing that the company has bagged an order worth Rs 313.42 crore. The company has signed a contract with the Ministry of Defence for MR/Mid-Life Upgrade of an Indian Naval Ship.

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.

Also read, Explained: What is behavioural finance and its implications

Cochin Shipyard Limited (CSL) has a strong order book of Rs 22,100 crore as of March 31, 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 362.75 on October 23, 2020, to Rs 1045.85 on October 17, 2023, an increase of about 180 per cent in a three-year holding period.

Today, the stock opened at Rs 1070.00, with a high and low of Rs 1074.40 and Rs 1040.15, respectively. The stock ended the trading session at Rs 1045.90, down by 1.23 per cent. The stock has a 52-week high of Rs 1,258.00 and a 52-week low of Rs 411.00.

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