Cochin Shipyard hits life high on inking pact with US Navy

Cochin Shipyard (CSL) advanced 5.58% to Rs 1,140.95 after the ship building firm signed the master shipyard repair agreement (MSRA) with United States Navy.

The MSRA is a non-financial agreement and is effective from 5 April 2024. This will facilitate repair of US Naval vessels under Military Sealift Command in CSL.

The company has been qualified for entering into the MSRA after a detailed evaluation process and capability assessment by the US Navy Military Sealift Command.

Cochin Shipyard is engaged in shipbuilding & ship repair. As on 31 December 2023, the Government of India held 72.86% total voting right in the company.

 

The companys consolidated net profit soared 121% to Rs 244.38 crore on 64.63% jump in revenue from operations to Rs 1,056.40 crore in Q3 FY24 over Q3 FY23.

The counter hit an all-time high of Rs 1,170.05 in todays intraday session.

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