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Cochin Shipyard shares zoomed 13% today; should you consider booking profit?

Cochin Shipyard shares zoomed 13% today; should you consider booking profit?

Cochin Shipyard: The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs).

Prashun Talukdar
Prashun Talukdar
  • Updated Jun 5, 2025 2:50 PM IST
Cochin Shipyard shares zoomed 13% today; should you consider booking profit?Cochin Shipyard has a one-year beta of 1.2, indicating high volatility.

Shares of Cochin Shipyard Ltd extended their winning streak for the third consecutive session on Thursday, surging 13.14 per cent to hit a day high of Rs 2,363.30. It topped the BSE turnover chart, with 29.02 lakh shares worth Rs 648.28 crore changing hands.

While the long-term outlook remains strong, a few market experts advise investors to book profits at current levels following the recent sharp rally.

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"There is a lot of euphoria and exuberance around defence stocks right now, including Cochin Shipyard. In the medium- to short-term, the stock is fully priced-in but the long-term outlook remains strong. Any dips should be considered as a buying opportunity," stated Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

The stock has surged almost 50 per cent in the last couple of trading weeks, noted Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One. "After such a significant upward shift, a pullback can be anticipated, suggesting a cautious investment approach. In terms of support levels, the range of Rs 2,050-2,000 is expected to provide cushioning against any upcoming declines, while Rs 1,800 might serve as a critical support level. At present, it is advisable to trail profits till momentum persists, also a sustained move beyond Rs 2,300-2,350 could lead to a further upmove towards Rs 2,450-2,500 levels in the near period," he also said.

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Cochin Shipyard is bullish but overbought on daily charts with the next resistance at Rs 2,454, said Sebi-registered independent research analyst AR Ramachandran. "Investors should be booking profits as a daily close below support of Rs 2,050 could lead to a downward target of Rs 1,800 in the near term," he added.

The scrip 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 77.97. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-earnings (P/E) ratio of 74.44 against a price-to-book (P/B) value of 11.53. Earnings per share (EPS) stood at 31.28 with a return on equity (RoE) of 15.48. According to Trendlyne data, Cochin has a one-year beta of 1.2, indicating high volatility.

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The state-owned defence player 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.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jun 5, 2025 2:50 PM IST
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