Cochin Shipyard sailing high

Cochin Shipyard continues to do well, rising over 3% to hit an intraday high at Rs.608.95; the stock had hit a new 52-week yesterday at Rs.616.60.

The company announced yesterday night that it has bagged an international order for constructing 2 nos. of Commissioning Service Operation Vessels (CSOV) from a European Client, with an option to build 4 more of such vessels to be exercised by the Owner within a period of one year.

These vessels are intended for the services of offshore wind farm installations towards its commissioning and maintenance.

These specialized vessels are being contracted for the first time in the country.

The estimated project cost for the firm order is approximately Rs. 1000 crore and the project completion time is 35 months.

The Board of the company is scheduled to meet on 10th Nov for considering Q2FY23 earnings.