Multi bagger PSU Stocks in focus amid recent order wins, here to know details

Shares of defense public sector unit Cochin Shipyard Ltd and railway stock Rail Vikas Nigam Ltd are in focus on Monday morning due to recent contract wins. Cochin Shipyard announced on Saturday that it has signed an agreement with the Ministry of Defense (MoD) of the Government of India for the short refit and dry docking of a large Indian naval vessel.

The estimated value of the contract exceeds Rs 1,000 crore, and the project is expected to take around five months to complete. The company clarified that this order does not fall under the category of related party transactions. 

Cochin Shipyard's shares rose by 18 percent in the past week and have gained 131.38 percent in 2024. In contrast, Rail Vikas Nigam Ltd (RVNL) shares fell by 4.45 percent last week but are still up by 139.25 percent this year.

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In the case of Cochin Shipyard, it recently entered into a Memorandum of Understanding (MOU) with Seatrium Letourneau USA, Inc (SLET) for the design and critical equipment for jack-up rigs for the Indian Market.

The partnership aimed to capitalize on opportunities for Mobile Offshore Drilling Units (MODUs) designed to meet the needs of the Indian market and the collaboration was in line with the government’s efforts under the "Make in India" initiative. 

RVNL, on the other hand, informed stock exchanges BSE and NSE that it has emerged as the Lowest Bidder (L1) from PSPCL for the development of distribution infrastructure work for Package-3 Central Zone. The shares are trading above 0.011%, with dividend yield of 0.48%. The market capitalization is standing at Rs 97.74T Crore.

 

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