Kochi: The share price of Kerala-based central public sector shipbuilding company Cochin Shipyard surged by 8.93 per cent to a record high of Rs 2,923.95 during Friday’s trade. With this, the company’s market value has reached Rs 76,923 crore. This is the first time that the market value of a listed company headquartered in Kerala has crossed Rs 75,000 crore. Cochin Shipyard has also achieved the distinction of being the company with the highest market value among Kerala-based companies, overtaking Muthoot Finance, a non-banking financial institution.

The closing price of the stock on the previous day was Rs 2,835.35, reflecting a gain of 5.63 per cent over Thursday. This brought the market value to Rs 74,592.61 crore. The share price has increased by 68.29 per cent over the past month. On 5 June, the share price was Rs 1,684.80, and it now stands at Rs 2,835.35.

The share price of Cochin Shipyard has surged due to the continuous receipt of large-scale shipbuilding and repair orders, including from abroad. Additionally, the overall stock market has benefited.

More about company

Established in 1972 as a wholly owned Government of India enterprise, Cochin Shipyard Limited (CSL) has evolved into a leading entity within the Indian Shipbuilding & Ship Repair sector over the past three decades. Recognised with Miniratna status, CSL possesses the capability to construct vessels up to 1.1 million tons and repair vessels up to 1.25 million tons, making it the largest such facility in India.

In August 2012, the Government of India unveiled plans for divestment aimed at generating Rs. 15 billion (15,000 million Rupees) through an Initial Public Offering (IPO) by the end of the fiscal year, to facilitate further expansion.