This small-cap ship manufacturing company has bagged orders worth more than Rs 500 crore
Shares were trading up by more than 5 per cent today after company announced about this development
For the design and construction of a total of two nos. of Zero Emission Feeder Container Vessels with an option for two additional vessels, Cochin Shipyard Limited (CSL) has received an order from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, Lysaker Norway, companies in the Samskip Group, with headquarters in the Netherlands. The first vessel must be delivered in 28 months, and the second within 34 months. The overall project cost for the definite order is roughly Rs 550 crore. These ships, which can accommodate about 365 high-cube containers each measuring 45 feet long, are designed to service the European market, which has a strong demand for environmentally friendly transportation options.
Scrip opened today at Rs 449.95 and touched its day high at Rs 473.65 after the surge. Its 52-week high stood at Rs 686.80 whereas its 52-week low was Rs 290.50. Promoters hold 72.86 per cent, whereas institutional and non-institutional holdings are 10.74 per cent and 16.39 per cent, respectively. Presently, the market cap of the company is Rs 6,209 crore.
Cochin Shipyard Limited (CSL), a pioneer in the building of all sorts of boats as well as repairs and refits of all types of vessels, periodic ship upgrades, and life extension, was founded in 1972. With its prestigious clients across the world, CSL has constructed and restored some of the largest ships. Over 45 ships have been exported by them to various customers outside of India. Building smaller ships and more technologically advanced ships like platform supply vessels and anchor-handling tug supply vessels has allowed it to expand its competence beyond bulk carrier construction.