Stock of this shipbuilding company has zoomed over 100% in 5 months

Shares of Cochin Shipyard (CSL) hit a new high on Monday after the shipbuilder signed Master Shipyard Repair Agreement (MSRA) with the United States Navy.

Shares of Cochin Shipyard (CSL) hit a new high of Rs 1,154, surging 7 per cent on the BSE after the company signed the Master Shipyard Repair Agreement (MSRA) with the United States Navy.

CSL in an exchange filing said the MSRA is a non-financial agreement and is effective from April 05, 2024. This will facilitate repair of US Naval vessels under Military Sealift Command in CSL.

Meanwhile, since March 14, in the past 16 trading days, the stock price of CSL has appreciated by 58 per cent. In past five months, it has more than doubled or zoomed 120 per cent