Cochin Shipyard rises after decent Q1 figures

Cochin Shipyard rose 1.18% to Rs 364.8 at 12:14 IST on the BSE after consolidated net profit rose 12.1% to Rs 118.97 crore on 11.6% rise in net sales to Rs 735.44 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after market hours yesterday, 29 July 2019.

Meanwhile, the S&P BSE Sensex was up by 112.43 points or 0.3% to 37,798.38.

On the BSE, 3263 shares were traded in the counter so far compared with average daily volumes of 2782 shares in the past two weeks. The stock had hit a high of Rs 367 and a low of Rs 362 so far during the day. The stock hit a 52-week high of Rs 462 on 13 August 2018 and hit a 52-week low of Rs 333 on 19 February 2019.

Cochin Shipyard is mainly engaged in the construction of vessels and repairs and refits of all types of vessels including upgradation of ships, periodical layup repairs and life extension of ships.

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