Cochin Shipyard fell 1.25% to Rs 616.90 extending losses for the the fifth trading session.
Shares of Cochin Shipyard have fallen 7.93% in five trading sessions.The stock hit a 52-week high of Rs 686.80 on 5 December 2022. It hit a 52-week low of Rs 281 on 8 March 2022.
The stock had outperformed the market over the past one month, gaining 3.53% compared with 2.16% rise in the Sensex.
The scrip outperformed the market in past one quarter, surging 56.48% as against Sensex's 4.72% rise.
The scrip had underperformed the market in past one year, gaining 79.24% as against Sensex's 6.58% rise.
On the technical front, the stock's daily RSI (relative strength index) stood at 47.47. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
More From This Section
On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 575.24, 466.35 and 390.82, respectively. These levels will act as crucial support zones in near term.
Cochin Shipyard is engaged in shipbuilding & ship repair. As on September 2022, the Government of India held 72.86% in the company.
On a consolidated basis, net profit of Cochin Shipyard declined 14.10% to Rs 112.79 on 1.86% decline in net sales to Rs 683.18 crore in Q2 September 2022 over Q2 September 2021.
Powered by Capital Market - Live News