Cochin Shipyard gains after order win

Cochin Shipyard rose 1.82% to Rs 344.25 after the firm said it received the letter of acceptance (LoA) from Kochi Metro Rail for building 23 boats for the Kochi Water Metro Project.

These boats will provide inland transportation using electric/ hybrid technology. On the whole KMRL has a requirement of around 78 high quality boats of international standards. Out of this, 23 boats having a capacity of 100 PAX was tendered by KMRL in which Cochin Shipyard also participated. The contract is yet to be executed and the status of the same will be updated, the company said today, 5 September.

Meanwhile, the S&P BSE Sensex was down 101 points or 0.28% to 36,623.3.

On the BSE, 2740 shares were traded in the counter so far compared with average daily volumes of 3222 shares in the past one quarter. The stock hit a high of Rs 349.95 and a low of Rs 340 so far during the day.

The stock hit a 52-week high of Rs 434.8 on 24 Sep 2018. The stock hit a 52-week low of Rs 333 on 26 Aug 2019.

On a consolidated basis, the shipbuilding company's net profit rose 12.07% to Rs 118.97 crore on 11.65% increase in the net sales to Rs 735.44 crore in Q1 June 2019 over Q1 June 2018.

Cochin shipyard is one of the leading shipbuilding & repair yard in India, which has an infrastructure that combines economy, scale, and flexibility, and has ISO 9001 accreditation.

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