Cochin Shipyard shares are expected to remain in focus on December 2, 2024, following the company’s announcement of a Rs 1,000 crore contract with the Ministry of Defence. The contract is for a short refit and dry docking of a large Indian Naval Vessel, with the project expected to take about five months.
Recently, Cochin Shipyard signed a Memorandum of Understanding (MoU) with Seatrium Letourneau USA, Inc. (SLET) on November 22 to design and supply critical equipment for jack-up rigs in the Indian market.
Cochin Shipyard for the quarter reported a 4% rise in net profit to Rs 189 crore while revenue from operations increased by 13% to Rs 1,143.2 crore against Rs 1,011.7 crore in the corresponding period of the previous year.
Geojit Financial Services maintained a ‘buy’ rating on Cochin Shipyard’s shares with a target price of Rs 1,557, the brokerage said in its report dated November 25.
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Source: Moneycontrol
News Desk
