Defense PSU Stock hits 5% Upper Circuit with Big Order From Adani Group, 1:2 Stock Split

Cochin Shipyard, a debt-free PSU company known for its multi-bagger performance, experienced strong buying activity on December 27, resulting in the stock hitting its 5% upper circuit limit. This surge was triggered by Cochin securing the largest ASTDS tug order from the Adani Group. The stock is considered an attractive investment opportunity. Brokerage firm Antique Stock Broking has named Cochin its top pick among defense stocks, setting a target price of Rs 1,627.

After market hours on December 27, Cochin shares were locked at the upper circuit of Rs 1,532.10 per share on the BSE, with a market capitalization of Rs 40,306.61 crore. So far this year, Cochin has delivered impressive gains of 125% on the BSE.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : WCL's Team Samvad Earns Prestigious Honor from Coal India

 The company paid three dividends in 2024 so far. For FY24, the company delivered interim and final dividends of Rs 3.50 per share and Rs 2.25 per share, with ex-dates in February and September.

For FY25, the company delivered a dividend of Rs 4 per share, with an ex-date of November 19. The company split for the first time in a ratio of 1:2 in January 2024. The face value of Rs 10 each is trimmed to Rs 5 each.

As per the regulatory filing of the order, Adani Ports & SEZ, through its subsidiary, Ocean Sparkle Limited, has placed an order for 8 nos of 70 T Bollard Pull ASD (Azimuthing Stern Drive) Tugs on Udupi Cochin Shipyard Limited, the wholly owned subsidiary of Cochin Shipyard Limited (CSL) - the leading shipyard in India.

Read Also : RINL Subsidiary Eastern Investments Limited holds 97th AGM