New Delhi: On October 16, 2024, the share price of Cochin Shipyard fell by 3.68% after opening 4.01% in the red for the day. The intraday low for the stock remained at Rs 1590. Due to this recent fall, the company has taken a lot of attention to its strategies in managing stocks. Contrarily, in the last calendar year, the shares have given an excellent return of 216% in relation to the Nifty’s return of 27%. Cochin Shipyard is no exception to the overall decline in the shipbuilding sector, which also witnessed a decline of 3.63%. At least a year back, Cochin Shipyard’s stock was doing fantastically even when the Nifty’s performance was not keeping pace.
The Cochin Shipyard Limited is one of the nation’s premier shipbuilding and repair yards, engaged in the building, repairing, and refitting of all types of vessels, periodical upgrading, and life extension. The company has constructed and repaired some of the largest ships for renowned international clients, exporting 45 ships to foreign customers. Cochin Shipyard developed the expertise of building technologically advanced vessels such as platform supply vessels and anchor handling tug supply vessels.
The company undertakes shipbuilding for defense, commercial, as well as offshore sectors, besides engaging in ship repair, marine engineering training, and strategic and advanced solutions. So far, it has built and delivered 21 large vessels, 35 offshore support vessels, 93 small to medium vessels, and 31 defense vessels. Since Cochin Shipyard began offering ship repair services in 1982, the company has upgraded and repaired several ships in various sectors, including oil exploration. Zero-emission green vessels, including H2 fuel cell vessels, are the company’s ongoing projects and are scheduled for completion in February 2024.
It is built to construct ships of up to 1.1 lakh DWT and repair vessels of up to 1.25 lakh DWT. Passing through various fluctuations, the company has grown multifold over the years by meeting all market demands for shipbuilding, right from purely bulk carriers to small to large vessels.
