Cochin Shipyard’s Share Price Skyrockets by 9% Following Major European Order Win: A New Multibagger Coin on the Rise?

  • Cochin Shipyard share price surged by over 9% in morning trades on Tuesday.
  • The company recently secured a large order from a European client for the construction of a Hybrid Service Operation Vessel.
  • The order, worth between ₹500-1000 crore, is expected to be completed by the end of 2026.

Shares of Cochin Shipyard saw a significant rise following the announcement of a large order from a European client, reflecting the company’s strong growth prospects.

Cochin Shipyard Secures Large Order

Cochin Shipyard announced on Monday, post-market hours, that it had secured a large order from a European client for the construction of a Hybrid Service Operation Vessel. The company classifies orders worth ₹500-1000 crore as large. This news triggered a surge in the company’s share price, which opened at ₹1238.65 on the BSE, around 3.65% higher over the previous day’s close. The share price continued to rise, reaching an intraday high of ₹1310.60, marking gains of more than 9%.

Impressive Returns for Investors

The Cochin Shipyard share price has given multibagger returns to investors, with gains of more than 380% in the last one year. The recent order from the European client is for the design and construction of a Hybrid Service Operation Vessel (Hybrid SOV) with an option for two more such vessels. The vessel will be equipped with hybrid battery systems to improve energy efficiency and reduce carbon footprints. It will be designed and built for the service, maintenance, and operational needs of the offshore wind farm industry in the European market, where sustainable energy solutions are in high demand. The project is expected to be completed by the end of 2026.

Strong International Order Flows

Indian Defence manufacturers, including Cochin Shipyard, have seen a strong improvement in earnings outlook due to robust domestic order inflows, driven by the country’s “Make in India” initiative. Now, they are also witnessing strong international order flows, which are further improving their earnings prospects. In April, Cochin Shipyard signed the Master Shipyard Repair Agreement with the United States Navy. The rising international orders are driving the Cochin Shipyard share price, which is trading near its 52-week high of ₹1378.95 seen on 30 April 2024.

Conclusion

For the quarter ending March 2024, Antique Stock Broking expects Cochin Shipyard to report revenue growth of 64% year-on-year to ₹945 Crore. The earnings before interest, tax, depreciation, and amortisation (Ebitda) are expected to rise to ₹170 crore during Q4Fy24 compared to an Ebitda loss of ₹66 Crore in the year-ago quarter. The recent large order and the company’s strong growth prospects make Cochin Shipyard a promising investment.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Altcoin XYZ Defies SEC: Token Holders Vote on Fee Distribution Plan!

Uniswap Foundation is set to proceed with...

PEPE Coin ($PEPE) Skyrockets to Record Highs: What Investors Need to Know

The cryptocurrency market has seen notable fluctuations...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Dogecoin (DOGE) Address Profitability Soars to 83%: Key Insights and Analysis

Dogecoin (DOGE) might be experiencing an immediate price plunge,...

SHIB, DOGE, BONK, FLOKI Price Analysis for May 25: Key Insights and Trends for Top Meme Coins

<ul> <li>Meme coins are experiencing a rebound after...

Bitcoin (BTC) Price Analysis: Experts Predict Potential Downtrend – What’s Next for BTC?

<ul> <li>Bitcoin (BTC) has experienced a significant drop...

Bitcoin (BTC) Faces Resistance-Induced Pullback: Market Analysis and Future Projections

Bitcoin (BTC) recently touched the $72,000 resistance...
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Election Buzz Fuels Nifty 50 and Sensex (NSE, BSE) to Record 2-Week Gains in 5 Months

<ul> <li>The Nifty 50 and Sensex ended flat in the previous session but recorded their best week since early February.</li> ...

Foreign Portfolio Investors Offload ₹22,046 Crore in Indian Equities: Impact on Market and Future Trends

<ul> <li>Foreign portfolio investors (FPIs) have turned aggressive sellers in Indian markets ever since reducing their buying momentum with the onset...

Infosys (INFY), Havells (HAVELLS), and More to Trade Ex-Dividend Next Week: Complete List Inside

<ul> <li>Dividend stocks have been gaining attention as investors seek stable returns amidst market volatility.</li> <li>Many companies are increasing their dividend payouts,...