1 week Ago
Cochin Shipyard shares will be in focus on Wednesday after the company signed a Memorandum of Understanding (MoU) with Drydocks World, a DP World company, to jointly develop ship repair clusters in India.The collaboration, driven by the Ministry of Ports, Shipping and Waterways, aims to enhance India’s ship repair ecosystem by combining the technical expertise of Cochin Shipyard and Drydocks World. The partnership is expected to bring global best practices, increase capacity, and support the government’s Maritime India Vision 2030 and AmritKaal Vision 2047.
The MoU was signed during the ‘CEO-Connect: Dubai-India Economic Ties & Opportunities’ event held in Mumbai.Under the agreement, the companies will explore opportunities to develop world-class ship repair clusters in Kochi (Kerala) and Vadinar (Gujarat), collaborate with major ports, and expand into offshore fabrication, marine engineering, and strategic infrastructure projects.Cochin Shipyard said the partnership will not only modernise maritime infrastructure but also generate employment and contribute to India's goal of becoming self-reliant in the sector under the ‘Atmanirbhar Bharat’ initiative.
Also Read: Stocks in news: BPCL, Adani Wilmar, Vodafone Idea, Cyient, Concord BiotechCochin Shipyard shares price targetAs per Trendlyne data, the average target price of the stock is Rs 1,338, which shows a downside of 3% from the current market prices. The consensus recommendation from 3 analysts for the stock is a 'Hold'.Technically, the stock’s Relative Strength Index (RSI) is at 49.
8. An RSI below 30 signals oversold conditions, while above 70 indicates overbought territory. The stock’s MACD stands at 19.
3, which is above its center line, but below the signal line.Cochin Shipyard shares are currently trading below key short- and long-term moving averages, including the 20-day to 200-day simple moving averages (SMAs).Also Read: From Ambani to Adani: India's 4 richest billionaires lose over $10 billion in bloody Monday market crashCochin Shipyard share price performanceOn Tuesday, Cochin Shipyard shares closed at Rs 1,378.
7 on the BSE, up 3%, while the benchmark Sensex surged 1.49%. The stock is down 16% in the past six months but gained 466% over the past two years.
Its market capitalisation currently stands at Rs 36,272 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times).
