Buy Cochin Shipyard, target price Rs 368: ICICI Direct

ICICI Direct has buy call on Cochin Shipyard Ltd. with a target price of Rs 368. The current market price of Cochin Shipyard Ltd. is Rs 353.25. Time period given by analyst is Intra Day when Cochin Shipyard Ltd. price can reach defined target.

Cochin Shipyard Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 4519.73 Crore) operating in Defence sector.

Cochin Shipyard Ltd. key Products/Revenue Segments include Indigenous Aircraft Carrier, Ship Repairs, Vessels, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1015.91 Crore, up 37.65 % from last quarter Total Income of Rs 738.02 Crore and up 33.07 % from last year same quarter Total Income of Rs 763.42 Crore. Company reported net profit after tax of Rs 129.38 Crore in latest quarter.

Investment Rationale
Breakout above a falling supply line joining highs since June 2021 supported by strong volume.

Promoter/FII Holdings
Promoters held 72.86 per cent stake in the company as of 31-Mar-2022, while FIIs owned 2.73 per cent, DIIs 4.28 per cent.