Cochin Shipyard shares resume upmove post 2-day fall; how strong is this upside?

Shares of Cochin Shipyard Ltd settled in the positive territory following a two-day halt. The stock rose 1.13 per cent to close at Rs 1,839.20. At this price, it has rallied 23.68 per cent in the past one month and 41.95 per cent in six months.

Bourses BSE and NSE have put the securities of Cochin Shipyard under the short-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.

The defence PSU reported an 11 per cent year-on-year (YoY) increase in net profit for the January–March 2025 quarter, with profit rising to Rs 287.18 crore from Rs 258.88 crore in the same period last year. Revenue surged 37 per cent to Rs 1,757.65 crore in Q4 FY25, compared to Rs 1,286.04 crore in Q4 FY24.

A few market experts said the Rs 2,000-Rs 2,195 range would act as resistance for the counter and a decisive breach above the said zone is required for further upside. One of the analysts recommended that the stock could gradually rise towards Rs 2,300 in the coming period. That said, support will be at Rs 1,800-1,757 and more pain can be expected if these levels are broken.

Cochin Shipyard shares saw a pullback after such a significant upward shift, said Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One. "Rs 1,800 is expected to provide cushioning against any upcoming declines, while the breakout neckline at Rs 1,730 might serve as a critical support level. On the upside, the stock may gradually rise towards Rs 2,300 in the coming period," he also stated.

The immediate hurdle for Cochin Shipyard would be at Rs 2,000, said Ravi Singh, SVP - Retail Research at Religare Broking, adding that Rs 1,780 will be the near-term support level.

"Cochin Shipyard is bearish on daily charts with strong resistance at Rs 2,195. A daily close below support of Rs 1,757 could lead to a downward target of Rs 1,577 in the near term," Sebi-registered independent research analyst AR Ramachandran suggested.

The state-owned defence 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 for domestic and international fleets. 

As of March 2025, the government held a 67.91 per cent stake in the state-run firm.