Cochin Shipyard (COCHINSHIP) Share Price Latest News: Cochin Shipyard, a Miniratna public sector undertaking, is likely to secure a major order from France’s CMA CGM, sources told Zee Business. The likely LNG-powered ship order comes days after the Indian and and French companies’ officials met in Singapore Maritime. In the initial phase, the order may comprise 1,500 twenty-foot equivalent unit (TEU), according to sources.
TEU is a key metric that determines the volume of a shipping container.
The news comes at a time when LNG-powered ships are gaining traction around the globe as businesses move from more emission-causing fuels to relatively greener fuels.
At the time of publishing this report, Cochin Shipyard was yet to respond to Zee Business’s queries on the subject.
Cochin Shipyard Share Price News: Miniratna PSU stock rises amid order buzz
The Cochin Shipyard stock—traded with the symbol COCHINSHIP on stock exchanges BSE and NSE—gained by as much as Rs 50.6, or 3.8 per cent, to Rs 1,389.3 apiece on BSE during Tuesday’s session.
Trading in decent large volumes, the stock was last seen trading 2.9 per cent higher at Rs 1,377.6 apiece in afternoon deals.
As many as 86,000 Cochin Shipyard shares changed hands on BSE by around 1 pm, as against a daily average of 1.2 lakh in the past two weeks, according to provisional exchange data.
How Cochin Shipyard Stock Has Fared in Past
At current levels, Cochin Shipyard shares have risen almost 21 per cent in the past one year, sharply outperforming the headline Nifty 50 index which has remained unchanged during this period.
Once a Popular Multibagger Miniratna PSU Stock…
The stock clinched an all-time high in early July last year, taking its one-year return to almost 9.8 times. The stock has retreated from those levels since.
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