697% return in 1 year: This defence PSU stock is in focus after bagging order from UK firm

Cochin Shipyard Share Price NSE BSE: Shares of State-owned Cochin Shipyard Limited(CSL) are in focus as the company has bagged a fresh order from a leading UK-based offshore renewable operator. The counter opened in green at Rs 2007.95, up by around Rs 37.45 from the previous close of Rs 1970.50 on the BSE. The counter jumped around 2.64 per cent to touch the day's high of Rs 2022.55. However, it lost momentum amid selling pressure and fell down to Rs 1896.80 - a fall of around 3.74 per cent from the last closing price. Last seen, it was trading at Rs 1904.

Cochin Shipyard Share Price History

It is one of the stocks that has given multibagger returns to investors this year. The counter has gained over 180 per cent so far this year. In one year, the scrip has gained 697 per cent and in two years it has surged over 1085 per cent.

Cochin Shipyard Bags New Order

India's leading shipyard has said that it has secured another international order from North Star Shipping, a top UK-based offshore renewable operator, for the construction of hybrid Service Operation Vessels (SOVs).

As part of the order, they will be building hybrid SOVs. These vessels will be deployed at the Scottish Power Renewables East Anglia THREE offshore wind farm, situated off the Suffolk coast, an official release said here. A CSL source said the order is valued at EUR 60 million. It said the ship-building contract also has an option to contract two more such vessels.

North Star, earlier in the year, contracted another hybrid SOV with Cochin Shipyard. With attention turning towards sustainable and green energy solutions, there is a large global focus on the development of offshore renewable energy segments.