air said India should do much more of ship repair, given the country's location and good-quality manpower.
The stock that hits a new lifetime high attracts more volumes resulting in higher price levels.
Cochin Shipyard is one of the leading shipbuilding and repair companies in India
The country's first Indigenous Aircraft Carrier (IAC-1), Vikrant, is in advanced stage of construction and will be delivered to the Navy in 2021
The company has signed the Phase-III contract for construction of the indigenous aircraft carrier for Indian Navy.
Despite a fall of 26 per cent since its listing in August 2017 (30 per cent fall thus far in calendar year 2018), analysts remain bullish on this government-owned company from a long-term horizon.
Cochin Shipyard, the largest ship building and repairing facilitybin the country, would execute around Rs 150 billion worth of orders including building of Anti Submarine Warfare (ASW) Corvette and the aircraft carrier for Indian Navy in next five years. The expansion plans, including a dry dock within the shipyard and facilities in Mumbai, Kolkata and Port Blair, for a total of over Rs 25 billion would also be ready during this period, said Madhu S Nair, CMD of Cochin Shipyard."Unlike in other industries, we will not see this signed, documented and sealed at each point of time, but the visibility in front of us is around Rs 150 billion. For the aircraft carrier, we have some post delivery commitments. All these contracts has to be executed in at least four to five years at the maximum," he said.The company is in advanced stages of finalising a contract to build the ASW Corvette, with the Indian Navy, as the lowest bidder for the project. The project is to produce eight such vessels ..
The commercial ship building industry in India is worth Rs 32 billion and focuses primarily on small-medium sized offshore vessels and cargo/bulk carriers
With this project, India will emerge as a major ship repair centre on par with Colombo, Dubai, Singapore, Bahrain
The vessels, which can carrying trucks and other vehicles, along with sitting passengers, will be deployed on National Water Ways 1, 2 and 3
One of its major expansion projects is a Rs 17.99-bn drydock for building complex, technology-intensive large vessels
The shipyard has announced Rs 1 million to each family of the deceased
The company is well on course to meet its annual financial targets: Cochin Shipyard MD
The stock surged 10% to Rs 568 on the NSE after the company bagged an orders worth of Rs 5,000 crore from the Indian Navy.
Consortium proposes to build six LNG vessels under BOT model