Shares of Cochin Shipyard extended their strong upward move for the second consecutive session on Wednesday. The stock surged 6.90 per cent to hit a day high of Rs 2,175. It also logged heavy trading volume on BSE as around 8.67 lakh shares were last seen changing hands. The figure was higher than the two-week average volume of 7.23 lakh shares. Turnover on the counter came at Rs 184.13 crore, commanding a market capitalisation (m-cap) of Rs 55,285.11 crore.
Market experts maintained a bullish outlook on the stock, suggesting a potential upside of up to Rs 2,460. On the downside, immediate support is expected in the Rs 2,080–2,050 range.
Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, noted that the stock appears strong on daily charts and has the potential to reach the Rs 2,250 level in the near term. He recommended to keep a stop loss of Rs 2,080.
Jigar S Patel, Senior Manager and Technical Research Analyst at Anand Rathi, stated that the stock has support at Rs 2,050 and faces resistance at Rs 2,200. He added that a decisive breakout above Rs 2,200 could lead to further upside towards Rs 2,300. For the short term, he expects the stock to trade within a range of Rs 2,050 to Rs 2,300.
Rajesh Palviya, Senior Vice-President of Technical and Derivatives Research at Axis Securities, indicated that Cochin Shipyard is showing bullish signals. He advised investors to consider buying, holding, and accumulating the stock, highlighting its upside potential in the range of Rs 2,250 to Rs 2,460 while identifying the downside support zone between Rs 1,920 and Rs 1,885.
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.
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