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Shares of Cochin Shipyard closed at Rs 1146.15 per share with a rise of Rs 191 or 20% on NSE. At the same time, the effect of the ongoing boom in the Indian domestic stock market for the last 4 days was also recorded on the 5th day on Thursday.
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| Cochin Shipyard |
The deal with the Indian Navy to make six next-generation missile vanes was the main reason for the rise in the company's shares.
Shares of shipbuilding company Cochin Shipyard reached the upper circuit on Thursday. There was a record rise in claims on ASE, due to which investors became rich. There was a slight slowdown in intraday trading due to profit booking, but the subsequent uptrend ended with a jump of 20%. The company's shares have given returns of up to 248% to its investors in 3 years.
The effect of the bullish trend that has been going on for 4 days in the Indian domestic stock market was also recorded on Thursday, the 5th day. Sensex strengthened by 368.91 points or 0.56% and closed at 66,249.43.
Similarly, the Nifty-50 gained 111.95 i.e. 0.57%, and closed at the level of 19,723.00 points. Shares of Cochin Shipyard, the country's largest ship-building company, topped the list of top gainers on Thursday.
Shares of Cochin Shipyard closed at Rs 1146.15 per share on NSE with a gain of Rs 191 or 20%. When the market opened in the morning, this share opened with a price of only Rs 955, which fell to Rs 947 in the afternoon due to profit booking. Cochin Shipyard's shares have given returns of up to 248% to its investors in 3 years.
The deal with the Indian Navy to make six next-generation missile vanes was the main reason for the rise in the company's shares. However, due to the final dividend of Rs 3 per share, there was a reason for the stock to strengthen.
Cochin Shipyard strengthened its order book after securing a deal with the Indian Navy. At the same time, before this Cochin Shipyard has got a big deal from the Corporation of India in partnership with Netherlands company IHC. The company has expressed hope of getting bigger orders in the future as well.
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