State owned Cochin
Shipyard announced Q4 results on 24th May,2024.The company's revenue from
operations surged 114.33%to RS. 1286 crore against Rs.600 crore in the same
quarter last year. Know the detailed chart analysis of the share price of
Cochin Shipyard.
State-owned Cochin
Shipyard Ltd (CSL) published its quarterly results on Friday, May 24, informing
that its net profit for the fourth quarter ending March 31, 2024, surged by
558.823% year-on-year to ₹258.9 crore.
This is a significant rise compared to Rs 39.33 crore
reported in the same quarter last year, according to the company's regulatory
filing.
The company's total income for the quarter stood at Rs.1,366.16 crore, up from Rs 671.32 crore in January-March FY23. Additionally, the
board has approved a final dividend of Rs 2.25 per share for FY24.
This impressive financial performance reflects the company's
robust growth and strategic operations, making Cochin Shipyard Ltd a reliable
player in the industry.
Cochin Shipyard established itself as a top shipbuilding
and repair yard in India. The yard also has a dedicated space for offshore
construction and future expansions which indicates the company's positive
future plans.
In Q4 FY23, the company saw significant growth. It earned Rs
985.15 crore from its shipbuilding segment, greater than the previous year
which was Rs. 453 85 crore. The ship repair segment also recorded impressive
results, with revenues of Rs 300.89 crore compared to Rs 146.24 crore last
year.
Cochin Shipyard is a key player in India's
shipbuilding and repair industry. The company has a specialized areas for
offshore projects and future developments. The yard is poised for continued
growth. In the fourth quarter of FY23, the company's shipbuilding revenue
surged to Rs 985.15 crore from Rs 453.84 crore the previous year. Similarly, the
ship repair segment earned Rs 300.89 crore, up from Rs 146.24 crore. During
the financial year FY24, Cochin Shipyard's profit more than doubled to Rs
783.27 crore from Rs 304.70 crore in FY23.
Technical analysis of Cochin Shipyard Share
Price:
Cochin Shipyard whose
market capitalization stood at Rs. 50273.32 crore made a high of Rs.2030 on last Friday and closed at Rs.1912.55. As per monthly chart the stock is in
uptrend and for the last two months huge buying seen with positive price
movements.
It indicates buyer dominance.
Now it made a bullish candle suggests further upside movement to continue upto
2300 to 2500 level. The RSI in daily and weekly both time frames is above 60
level, suggesting the stock is in high momentum. Only monthly RSI may face
resistance at 60 RSI level. But if the stock crosses that level of RSI we can
see a good upward move in the stock for the coming days. Investors should keep close watch the
overall market structure before the last leg of election around the country and
the outcome of the same on 4th June. How these impact our market which is
at all-time high.
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