Cochin Shipyard share price soars 298% in one year; can this upside momentum continue?
Cochin Shipyard's stock value has surged significantly. Trendlyne data indicates that in a single year, the share price of Cochin Shipyard increased by almost 298% from the last trading price of ₹902.45. Cochin Shipyard's chief business is building new ships as well as repairing and refitting old ones.
On Friday's session, Cochin Shipyard share price ended 0.59% higher at ₹901.65 apiece on BSE. In the previous three months, Cochin Shipyard share price climbed by 39%, and in the last six months, it has jumped by almost 80%. Also Read: Stocks to buy: Axis Bank, Indus Tower among top choices, here's why Cochin Shipyard stock is rated 'buy' by domestic brokerage ICICI Direct Research, with a target price of ₹1,055.
The brokerage's investment justification is based on two elements: the company's outstanding skills in shipbuilding and ship repair; the execution of picking up a sizable order backlog to spur growth; and the durability of the order inflow possibility. "Valuations look attractive considering the multiple growth drivers. We value Cochin Shipyard at ₹1,055 i.e.
Read more on livemint.com
