Buy Cochin Shipyard Ltd For The Target Rs.680/710 - LKP Securities
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Future Outlook
• CSL has the largest Ship Building & Maintenance Facility in India and its ability to deliver complex Defence Vessels is vindicated by its delivery of India's first indigenous Aircraft Carrier- INS Vikrant. CSL is also constructing India's first hydrogen fuel cell vessel.
• CSL is expected to see good momentum this fiscal on the back of its strong Rs 210bn Order Book.
Technical Commentary
• The stock is maintaining a strong uptrend marked by consistent higher highs and higher lows, indicating sustained positive momentum.
• A rising trendline acts as a reliable support for the stock's price movements, potentially preventing significant downside.
• Adopting a "buy on dip" approach is recommended, with an optimal entry point around 600.
• This strategy capitalizes on potential price retracements within the context of the ongoing uptrend.
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