Cochin Shipyard rises as its arm bags order from Wilson Shipowning AS
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Cochin Shipyard is currently trading at Rs. 557.55, up by 8.45 points or 1.54% from its previous closing of Rs. 549.10 on the BSE.
The scrip opened at Rs. 548.00 and has touched a high and low of Rs. 566.85 and Rs. 546.05 respectively. So far 103328 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 686.80 on 05-Dec-2022 and a 52 week low of Rs. 296.45 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 572.30 and Rs. 533.80 respectively. The current market cap of the company is Rs. 7350.48 crore.
The promoters holding in the company stood at 72.86%, while Institutions and Non-Institutions held 10.07% and 17.07% respectively.
Cochin Shipyard’s wholly owned subsidiary -- Udupi Cochin Shipyard (UCSL) has bagged prestigious international order from M/s Wilson Shipowning AS, Norway, for Design and Construction of 6 Nos. new generation diesel electric 3800 DWT general cargo vessel. The contract is signed with an option for additional 8 vessels.
The ‘Future proof Dry Cargo Vessel’ designed by Conoship International, Netherlands shall be constructed as an Environmental friendly Diesel Electric vessel ready for installation of Wind foil units and battery hybrid systems. These vessels are intended for the transport of general cargo at inland as well as coastal waters of Europe.
Wilson Ship management AS, a company headquartered in Bergen, Norway is the largest short sea fleet in Europe and transports about 15 million tonnes dry cargo across Europe. Wilson Ship management AS, has a fleet of around 130 vessels ranging from 1500 to 8500 DWT. Udupi Cochin Shipyard is also active in the markets for harbour tugs, offshore and fishing vessel segments. The ‘Future proof Dry Cargo Vessel’ Project is at an around cost of Rs 580 crore. The first vessel will be delivered by December 2024 and thereafter deliveries will be completed within March 2026.
Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India.
