Cochin Shipyard shares zoom 14% today; here's what tech charts indicate
Shares of Cochin Shipyard rose sharply in Wednesday's trade, surging 13.94 per cent to hit a high of Rs 1,742.30. The stock was last seen trading 10.23 per cent up at Rs 1,738.55. At this price, it has jumped 32.56 per cent in last six months.
- May 14, 2025,
- Updated May 14, 2025 2:30 PM IST
Shares of Cochin Shipyard rose sharply in Wednesday's trade, surging 13.94 per cent to hit a high of Rs 1,742.30. The stock was last seen trading 10.23 per cent up at Rs 1,738.55. At this price, it has jumped 32.56 per cent in last six months.
Technically, the counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 69.17. A level below 30 is defined as oversold while a value above 70 is considered overbought.
"Support will be at Rs 1,650 and resistance at Rs 1,800. A decisive move above Rs 1,800 level may trigger a further upside towards Rs 1,900. The expected trading range will be between Rs 1,650 and Rs 1,900 for the short term," said Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi.
Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, the current technical setup suggests a strong bullish bias.
The company's stock has a price-to-earnings (P/E) ratio of 55.62 against a price-to-book (P/B) value of 8.61. Earnings per share (EPS) stood at 31.28 with a return on equity of 15.48. According to Trendlyne data, Cochin has a one-year beta of 1.4, indicating high volatility.
The stock witnessed heavy trading along with the price action as around 20.90 lakh shares changed hands on BSE at the time of writing this story. The figure was higher than the two-week average volume of 3.30 shares. Turnover on the counter came at Rs 363.51 crore, commanding a market capitalisation (m-cap) of Rs 45,901.02 crore.
The defence PSU recently collaborated with Drydocks World to boost ship repair and offshore fabrication capabilities. The partnership aims to play a pivotal role in developing a world-class ship repair ecosystem to serve both domestic and international fleets.
As of March 2025, the government held a 67.91 per cent stake in the state-run firm.
Separately, there has been a renewed buying interest in defence counters after Prime Minister Narendra Modi emphasised the need for greater military self-reliance.
In his first address to the nation after Operation Sindoor, Modi warned Pakistan that India will not succumb to nuclear blackmail. He described Operation Sindoor as India's new policy against terrorism and an unwavering pledge for justice.
The Prime Minister said the operation is the new normal and that India had only kept its actions against Pakistan in abeyance, with future steps depending on Pakistan's behaviour.
He reiterated that terror and trade cannot go together, echoing US President Donald Trump's statement that trade with India and Pakistan will depend on ending the conflict.
Shares of Cochin Shipyard rose sharply in Wednesday's trade, surging 13.94 per cent to hit a high of Rs 1,742.30. The stock was last seen trading 10.23 per cent up at Rs 1,738.55. At this price, it has jumped 32.56 per cent in last six months.
Technically, the counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 69.17. A level below 30 is defined as oversold while a value above 70 is considered overbought.
"Support will be at Rs 1,650 and resistance at Rs 1,800. A decisive move above Rs 1,800 level may trigger a further upside towards Rs 1,900. The expected trading range will be between Rs 1,650 and Rs 1,900 for the short term," said Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi.
Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, the current technical setup suggests a strong bullish bias.
The company's stock has a price-to-earnings (P/E) ratio of 55.62 against a price-to-book (P/B) value of 8.61. Earnings per share (EPS) stood at 31.28 with a return on equity of 15.48. According to Trendlyne data, Cochin has a one-year beta of 1.4, indicating high volatility.
The stock witnessed heavy trading along with the price action as around 20.90 lakh shares changed hands on BSE at the time of writing this story. The figure was higher than the two-week average volume of 3.30 shares. Turnover on the counter came at Rs 363.51 crore, commanding a market capitalisation (m-cap) of Rs 45,901.02 crore.
The defence PSU recently collaborated with Drydocks World to boost ship repair and offshore fabrication capabilities. The partnership aims to play a pivotal role in developing a world-class ship repair ecosystem to serve both domestic and international fleets.
As of March 2025, the government held a 67.91 per cent stake in the state-run firm.
Separately, there has been a renewed buying interest in defence counters after Prime Minister Narendra Modi emphasised the need for greater military self-reliance.
In his first address to the nation after Operation Sindoor, Modi warned Pakistan that India will not succumb to nuclear blackmail. He described Operation Sindoor as India's new policy against terrorism and an unwavering pledge for justice.
The Prime Minister said the operation is the new normal and that India had only kept its actions against Pakistan in abeyance, with future steps depending on Pakistan's behaviour.
He reiterated that terror and trade cannot go together, echoing US President Donald Trump's statement that trade with India and Pakistan will depend on ending the conflict.