This PSU stock is buzzing on the bourses today

5paisa Research Team 20th January 2023 - 02:17 pm

The shares surged 3.5% on the day.

On January 20, the market is trading flat. At 1:25 pm, the S&P BSE Sensex is trading at 60,846.77. Regarding sectoral performance, Banks and Oil and Gas are the top gainers, while FMCG and Telecom are among the top losers. Among stock-specific action, Cochin shipyard Ltd is among the top gainers.

The shares of Cochin shipyard Ltd surged 3.5% and are trading at Rs 514. The stock opened at Rs 497.25 and made an intraday high and low of Rs 515 and Rs 492, respectively.

Cochin shipyard Ltd is a market leader in the construction of all types of vessels, repairs, and refurbishment of all types of vessels, as well as periodic upgradation and ship life extension. The stock is in news as union minister for Ports, Shipping and Waterways, Sarbananda Sonowal announced that Cochin shipyard Ltd will invest Rs 50 crore in startup companies operating in the maritime sector.

On a consolidated basis, the FY22 sales and net profit stood at Rs 3190 and Rs 587 crore, respectively. As per the FY22 period ending the company has ROE and ROCE of 14.1% and 18%, respectively.

For the September quarter, on a consolidated basis, the company generated revenue of Rs 683 crore. The Q2FY23 net profit was recorded at Rs 120 crore.

The long-term sales and net profit numbers also look good. The company’s 10-year sales and net profit CAGR stood at 9% and 14%, respectively.

About the shareholding pattern, 72.86% of the stake is owned by the Government of India, 6.87% by FIIs, 4.37% by DIIs, and the rest by 20.02% by non-institutional investors.

The company has a market capitalisation of Rs 6766 crore and currently, it is trading at a PE multiple of 11.5x. The stock has a 52-week high and low of Rs 687 and Rs 281, respectively.

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5paisa Research Team

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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