Cochin Shipyard is currently trading at Rs. 327.60, up by 4.55 points or 1.41% from its previous closing of Rs. 323.05 on the BSE.
The scrip opened at Rs. 334.50 and has touched a high and low of Rs. 334.50 and Rs. 327.25 respectively.
The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 491.15 on 20-Jan-2020 and a 52 week low of Rs. 209.00 on 24-Mar-2020.
Last one week high and low of the scrip stood at Rs. 335.80 and Rs. 315.00 respectively. The current market cap of the company is Rs. 4249.41 crore.
The promoters holding in the company stood at 72.86%, while Institutions and Non-Institutions held 12.27% and 14.87% respectively.
Cochin Shipyard (CSL), Kochi has signed contracts for construction and supply of two Autonomous Electric Ferry for ASKO Maritime AS, Norway with an option to build 2 more identical vessels. CSL is the largest commercial shipbuilder in India. The company clinched this prestigious export order from ASKO Maritime AS, the subsidiary group of Norges Gruppen ASA, one of the largest players in the Norwegian retail segment.
This Autonomous Electrical vessel project is an ambitious project in Norway partially funded by the Norwegian Government aimed at emission-free transport of goods across the Oslo fjord. These vessels will be managed by Massterly AS, the first company setup to take technical management and operate autonomous vessels, a joint venture between Kongsberg, the world leader in autonomous technology and Wilhelmsen, one of the largest Maritime shipping companies. Once in operation, this vessel will create a new bench mark for the merchant shipping world in the field of Autonomous Vessels with Zero Carbon Emission.
The company won this export order after detailed evaluation of various global shipyards and based on its value proposition to the customer. The company’s proven capability & track record to deliver world quality highend vessels to prestigious clients in Western Europe also found favour with the Client. CSL holds this contract, obtained within the current constraints posed by the pandemic, in high significance. CSL is already constructing 23 Hybrid Electric boats for the Kochi Water Metro. This project is expected to catapult CSL into the league of premier Shipbuilding yards in the world capable of handling high tech vessel construction.
Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India. The company caters to clients engaged in India’s defence segment and global commercial shipping sector
