Shipbuilder Stock, Cochin Shipyard witness turbulence with a fall over of 3.7%

Shipbuilder Stock, CPSE, Cochin Shipyard experienced a decline of 3.73% on December 31, 2024. This drop comes after a brief period of gains, marking a trend reversal for the stock. During the trading session, Cochin Shipyard reached an intraday low of Rs 1514.35, reflecting a decrease of 4.27%.

Regarding moving averages, the stock is currently above its 5-day and 50-day moving averages but falls below the 20-day, 100-day, and 200-day moving averages. The broader shipbuilding sector faced challenges, with a reported decline of 3.87%. The company paid three dividends in 2024 so far.

For FY24, the company delivered interim and final dividends of Rs 3.50 per share and Rs 2.25 per share and its ex-dates were in February and September month. For FY25, the company delivered a dividend of Rs 4 per share and its ex-date was on November 19 and stock split was in the ratio of 1:2 in January 2024. The face value of Rs 10 each is trimmed to Rs 5 each.

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Recently, the company won an order from Adani Ports and Special Economic Zone Ltd. to build eight tugs. The total value of the contract for the tugs is estimated at Rs 450 crore, with deliveries to begin in December 2026 and running through May 2028.

This order supports the Make in India and Aatmanirbhar Bharat initiatives, promoting local manufacturing and self-reliance in the maritime sector. Whole-time Director and CEO Ashwani Gupta of Adani Ports said that there is a commitment to strengthening India’s maritime infrastructure, and world-class local manufacturing capabilities are being leveraged to align with international standards.

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