MUMBAI - Shares of Cochin Shipyard Ltd surged to new highs today, with the stock price rising to ₹885.05 on the Bombay Stock Exchange (BSE) and peaking at ₹887.85, translating to an intraday gain of over 12% and finishing the day up over 7%. The shipbuilding company has delivered a striking performance, with a half-year return of 159.54% and a one-month gain of 40%.
The stock's robust showing comes on the back of a solid financial report for the quarter ending September, where Cochin Shipyard's revenue from operations saw a nearly 50% year-over-year increase, topping ₹1,000 crores. The net profit for the same period followed suit, jumping 61% to ₹181.5 crores. This financial upswing has been largely attributed to the company's shipbuilding operations, which have made a substantial contribution to EBITDA growth.
The firm is well-known for its expertise in constructing large vessels, such as Aframax tankers, and its extensive repair capabilities. These competencies have cemented Cochin Shipyard's status as a leader in the Indian shipbuilding and repair industry.
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