Cochin Shipyard touches roof on inking MoU with SLET to develop jack-up rig design for Indian market
Cochin Shipyard is currently trading at upper limit of Rs. 1363.40, up by 64.90 points or 5.00% from its previous closing of Rs. 1298.50 on the BSE.
The scrip opened at Rs. 1357.00 and has touched a high and low of Rs. 1363.40 and Rs. 1324.50 respectively. So far 25365 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 5 has touched a 52 week high of Rs. 2977.10 on 08-Jul-2024 and a 52 week low of Rs. 555.33 on 24-Nov-2023.
Last one week high and low of the scrip stood at Rs. 1365.25 and Rs. 1251.25 respectively. The current market cap of the company is Rs. 35705.32 crore.
The promoters holding in the company stood at 72.86%, while Institutions and Non-Institutions held 6.84% and 20.30% respectively.
Cochin Shipyard (CSL) has entered into a Memorandum of Understanding (MoU) with Seatrium Letourneau USA, Inc. (SLET) for the design and critical equipment for jack-up rigs for the Indian Market.
Building on CSL’s extensive experience in ship construction and engineering and SLET’s renowned technical expertise and design capabilities, this partnership aims to capitalize on opportunities for Mobile Offshore Drilling Units (MODUs) designed to meet the needs of the Indian market. This collaboration is in line with the Government’s efforts under the ‘Make in India’ initiative.
Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India.
