2:1 Stock Split: Heavy Buying Shipbuilding Stock Hits Upper Circuit; DIIs Purchase 1,31,540 Shares, Delivers Over 240 Per cent Multibagger Return in 1 Year!
The company’s shares have delivered an impressive return of over 110 per cent in the past 6 months only.
Incorporated in 1972, Cochin Shipyard Ltd is a leading player in the construction of various types of vessels, as well as the repair and refit of ships, including periodic upgrades and life extensions. CSL has built and repaired some of the largest ships for esteemed customers worldwide and has exported approximately 45 ships to clients outside India. The company has developed expertise in constructing bulk carriers, smaller ships, and advanced technology vessels such as Platform Supply Vessels and Anchor Handling Tug Supply Vessels.
On Friday, Cochin Shipyard Ltd rallied 10 per cent and hit the upper circuit with heavy volumes and is currently at around Rs 1846.55 per share. The company’s current market capitalization stands at Rs 48,579.18 crore. The stock has delivered a multibagger return of over 110 per cent in just 6 months.
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As per the Quarterly Results, in the first quarter of FY25, Cochin Shipyard Ltd recorded a revenue of Rs 710 crore. The operating profit for the period stood at Rs 182 crore. The net profit for Q1 was Rs 181 crore. Looking at the annual performance, the company generated a revenue of Rs 3645 crore in FY24, compared to Rs 2330 crore in FY23. The operating profit for FY24 was Rs 885 crore, with a net profit of Rs 813 crore.
According to the shareholding pattern, promoters own 72.86 per cent, while FIIs and DIIs own 4.94 per cent and 2.50 per cent, respectively, with the remaining 19.71 per cent held by public or retail investors. DIIs stake increased from 2.45 per cent to 2.50 per cent in the June quarter of FY25.
Investors must keep this Mid-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.