Cochin Shipyard Share Price Jumps Over 7% in Early Trade
Cochin Shipyard has returned to the spotlight, with momentum building in early trade. The PSU defence stock surged over 7% on Tuesday after being declared the L1 bidder by the Ministry of Defence for constructing five Next Generation Survey Vessels (NGSV) for the Indian Navy. The stock climbed as high as ₹1,575 on the BSE, snapping a four-session losing streak.
The current momentum is supported by strong trading activity. Nearly 17 lakh shares were traded, significantly higher than both the one-week and one-month average volumes. Investors appear optimistic, betting on positive prospects amid the ₹5,000 crore contract opportunity.
MoD Declares Cochin Shipyard L1 for ₹5,000 Crore Naval Deal; Cochin Shipyard Share in Spotlight
Cochin Shipyard has secured a major commercial opportunity. The Ministry of Defence has declared the company the L1 bidder for building five Next Generation Survey Vessels (NGSV) for the Indian Navy – a project valued at around ₹5,000 crore. The order not only strengthens India’s naval capabilities but also opens up significant revenue potential for the public sector unit.
With defence stocks witnessing strong buying interest, Cochin Shipyard shares have become an attractive option for investors. Will this mega order translate into sustained upside? Market participants will be watching closely as the formal contract announcement approaches.
“The final announcement of the contract will be subject to the satisfactory completion of necessary formalities in this regard, which will be updated in due course,” Cochin Shipyard said in a regulatory filing on February 16.
Cochin Shipyard Share Price Performance Update
- 3 Months: Down 10%
- 6 Months: Down 8%
- 1 Year: Up 27%
- 3 Years: Surged 533% (Multibagger Return)
- 5 Years: Jumped 762%
- Cochin Shipyard Share Price (17 Feb, 10:35 AM IST): ₹1,534.70, up ₹65.30 (+4.44%) today
Cochin Shipyard Share Technical View: Resistance Zone in Focus
| Parameter | Details |
|---|---|
| Current Price (9:25 AM) | ₹1,554.55 per share (BSE) |
| Intraday Gain | +5.88% |
| Key Resistance Zone | ₹1,640 – ₹1,662 |
| Technical Outlook | Supply cluster remains strong |
| Risk Factor | Rejection from resistance may trigger fresh downswing |
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