2:1 Split, Rs 14.50 Dividend: Defence PSU Likely To Declare Dividend, Buy For TP Rs 2000

Sumeet Bagadia of Choice Broking today recommended investors to buy defence public sector undertaking (PSU) Cochin Shipyard share with target price of Rs 2000 and maintain stop loss at Rs 1825 per share. Current market price of Cochin Shipyard share on BSE is Rs 1912.20 per share with intraday gain of 0.94%. Cochin Shipyard shares today hit 4th consecutive 52-week high in trade on BSE. Cochin Shipyard shares witnessed stunning surge of 35.18% in last 1-week only and soared 181% year-to-date. Today, the Board of Directors of Cochin Shipyard will hold meeting to declared financial results and recommend dividend, if any. The defence PSU already shelled out Rs 14.50 per share dividend in last 12 months span and underwent stock split in the ratio of 2:1 in 2024. Check more details here:

Cochin Shipyard To Declare Financial Results, Recommend Dividend, If Any: According to the BSE filing of Cochin Shipyard dated May 17, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held on Friday, May 24, 2024 to inter alia:

(a) consider and approve the standalone and consolidated audited financial results of the Company for the quarter and year ended March 31, 2024; and

(b) consider the recommendation of final dividend to the equity shareholders of the Company for the financial year 2023-24."

Cochin Shipyard Dividend History: Cochin Shipyard declared 15 dividends since August 6, 2018. In last 1-year, Cochin Shipyard declared an equity dividend amounting to Rs 14.50 per share. If current share price of Rs 1912.20 is taken into perspective, Cochin Shipyard gives investors a dividend yield of 0.75%. Adjusting for Bonus/Splits the dividend yield is 0.47%, according to Trendlyne data.

Cochin Shipyard Share Performance & Return: The 52-week high price of the defence PSU is Rs 2034.00 per share (24/05/2024) and 52-week low price is Rs 234.53 apiece (25/05/2023), respectively. Its market capitalisation is Rs 50,306.31 crore. Cochin Shipyard shares rallied massively by 122% in last 3-months only, soared 241% in just last 6-months span, rose 684% in last 1-year only, and rose 1047% in last 2-years.

Cochin Shipyard Stock Split History: Cochin Shipyard shares traded ex-split in the proportion of 2:1 on January 10, 2024. It was the maiden stock split that the PSU declared to make shares affordable.

About: Cochin Shipyard was incorporated in the year 1972 as a fully owned Govt of India company. In the last three decades the company has emerged as a forerunner in the Indian Shipbuilding & Ship repair industry. This yard can build and repair the largest vessels in India. It can build ships up to 1,10,000 DWT and repair ships up to 1,25,000 DWT. The yard has delivered two of India's largest double hull Aframax tankers each of 95,000 DWT, according to its official website.

Disclaimer:

The stock has been picked from the brokerage report of Choice Broking. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.