Before breaking a new record on Friday, Cochin Shipyard Limited (CSL) stock increased 20% in the previous trading session.
Details on Cochin Shipyard’s stock significantly rises today, reaching a record high
At 10:10 a.m., the company’s shares were up more than 9% to Rs 1,250.05. The company’s stock has had an incredible run recently, jumping more than 30% in the last five sessions and more than 80% in a single month.
Over the previous six months and the past year, the stock has gained by more than 152% and 206%, respectively.
Shares of Cochin Shipyard increased today as a result of management’s high level of optimism for the fiscal year 2024, which is being supported by a healthy order book for shipbuilding and ship repair. The company’s shares yesterday experienced a record-breaking 20% increase because to this fervor.
In an interview with BQ Prime on Thursday, Madhu S Nair, the chairman and managing director of Cochin Shipyard, exhibited a high sense of optimism for the fiscal year 2024.
Nair emphasized the company’s sizable order book in the shipbuilding and ship repair sectors while highlighting the importance of execution and the readiness of essential equipment. He exuded assurance as he described the current state of ongoing projects as being in a “favorable execution phase.”
The company’s stock is also in the spotlight since it will attend the “Antique Defence Conference” on September 8, 2023, which is being hosted by Antique Institutional Equities Investment Trust of India (ITI Group).
