Cochin Shipyard went down 1.25% in the fifth trading session to Rs 616.90. Cochin Shipyard has gone down 7.93%. On December 5 (Monday), the stock hit a 52-week high of Rs 686.80, whereas on March 8, the stock hit a 52-week low of Rs 281.
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The stock outperformed the broader market on November 22, rising 3.53% compared with a 2.16% gain for the Sensex. The stock had a stellar second quarter, surging 56.48% compared with the Sensex’s increase of 4.72%. The stock underperformed the broader market in 2021, rising 79.24% compared with a 6.58% gain for the Sensex.
The stock was trading above its 50-day simple moving average (SMA), placed at 575.24, 100-day simple moving average (SMA) at 466.35 and 200-day simple moving average (SMA), set at 390.82.
The company is engaged in ship repair and shipbuilding. At the end of the second quarter, the GOI held a 72.86% stake in the company.
The company’s net profit slipped 14.10% to Rs 112.79, and 1.86% went down in net sales to Rs 683.18 crore in Q2FY23 over Q2FY22.
