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Buy Cochin Shipyard; target of Rs 745: ICICI Direct

ICICI Direct is bullish on Cochin Shipyard recommended buy rating on the stock with a target price of Rs 745 in its research report dated November 11, 2022.

November 17, 2022 / 09:43 PM IST
 
 
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ICICI Direct's research report on Cochin Shipyard

Cochin Shipyard (CSL) was incorporated in 1972 as a Government of India company, with the first phase of facilities coming online in 1982. CSL is the largest shipbuilding and maintenance facility in India. The yard has facilities to build vessels up to 1.1 lakh tonnes and repair vessels up to 1.25 lakh tonnes annually • CSL has secured shipbuilding orders from internationally renowned companies from Europe and the Middle East in the recent past.

Outlook

We maintain our BUY rating on the stock. We value CSL at Rs 745 i.e. 15x PE (FY25E).