Shares of Cochin Shipyard hit a 52-week high of Rs 1,146.15 on 7 September on a strong business outlook. In comparison, the S&P BSE Sensex was down by 0.11%.

In the last three months, shares of the state-owned company have gained over 98%.

The company is the largest public-sector shipyard in the country. The company’s major revenue shares come from the Navy, including naval vessel construction, commercial shipbuilding, Coast Guard projects, and vessel repair services.

The company stated that the government primarily focuses on improving the port and inland water infrastructure, which will enhance the opportunities for the Indian yards to participate in the market with improved demands. The company has signed a contract to build the country’s largest Trailer Suction Hopper Dredger of 12,000 cubic metres for the Dredging Corporation of India in partnership with the market leader IHC, Netherlands is a major milestone in this market and can bring more potential projects in the future.

The company’s wholly owned subsidiary in West Bengal, Hooghly Cochin Shipyard Ltd, has become fully operational and has secured an order in the short sea and inland segment.

At 1:45 pm, the shares of Cochin Shipyard were trading at Rs 1,146.15 or 20% above its previous close of 955.15 on NSE.