Cochin Shipyard is in the limelight today morning, rising 6% to hit an intraday high at Rs.572.30. Its 52-week high stands at Rs.686.80.

The stock price reacted positively to it receiving an order worth Rs.300 crore from the Ministry of Defence.

The company has been declared as L1 by the Indian Navy for MR/Mid Life Upgrade of an Indian Naval Ship.

The estimated completion period is 24 months.

The company ended Q4FY23 with a big 86% (YoY) drop in consolidated net profit at Rs.39 crore on a 51% decline in net revenue at Rs.1212 crore.