Under the scheme, one share of Cochin Shipyard has been split into two. Today was the record date for determining the eligibility of shareholders for sub-division of the existing one share of face value of Rs 10 each fully paid up into two shares of face value of Rs 5 each fully paid up.
The stock ended 3% higher on Tuesday.
Last month, the shipyard said that the firm’s contract with the Ministry of Defence had been signed on December 19, for a value of Rs 488.25 crore. The work package includes repair and maintenance of the equipment and systems onboard the naval vessel.
Cochin Shipyard has been the premier shipyard in India for both commercial and defence shipbuilding and repairs. The yard with its pan-India presence is focusing on expanding its footprints and developing a larger ecosystem for shipbuilding and repairs across the nation.
“With Rs 214 billion in order backlog, Cochin ideally should have an execution schedule of over Rs 40 billion in revenue till FY26E. The key surprise in execution, however, lies in the ASW Corvette orders, sustainable ship repairs, and gradual ramp-up in NGMV orders. With a strong order backlog, Cochin can make good on execution promises,” Antique Stock Broking said.
(You can now subscribe to our ETMarkets WhatsApp channel)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Reference :
Reference link
