Cochin Shipyard witnessed a remarkable surge, with its shares rising over 7 percent to reach a new pinnacle of Rs 945 on January 31, propelled by robust earnings reported for the quarter ended December 2023. The company’s net profit exhibited a significant 121 percent year-on-year surge, reaching Rs 244.4 crore, while revenue from operations recorded a substantial 64 percent YoY increase, totaling Rs 1,056.4 crore during the quarter.
On January 30, the Board of Directors of Cochin Shipyard recommended its second interim dividend of Rs 3.50 per share of Rs 5 each fully paid (70 percent) for the fiscal year 2023-24. The record date for the interim dividend has been set for February 12.
As of 12:52 pm, Cochin Shipyard’s shares continued their positive momentum, trading 2.68 percent higher at ₹902.15. The company’s strong financial performance and the declaration of a dividend have contributed to the positive investor sentiment, driving the stock to new heights.
