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Dubai and India strengthen ties with eight strategic agreements across key sectors
Dubai and India have signed eight MoUs to enhance economic and strategic cooperation, covering sectors such as infrastructure, healthcare, and education. The agreements, witnessed by Dubai's Crown Prince and India's Commerce Minister, aim to facilitate market entry, investment, and joint initiatives, including the establishment of a UAE-India Friendship Hospital and a world-class campus for the Indian Institute of Management Ahmedabad in Dubai.
Cochin Shipyard secures 1000 crore contract with Indian Defence Ministry
Cochin Shipyard has signed a contract worth Rs 1,000 crore with the Ministry of Defence for the short refit and dry docking of a large Indian Naval Vessel, with an estimated project duration of five months. Following this announcement, Geojit Financial Services has assigned a 'buy' rating on the stock, setting a target price of Rs 1,557.
Cochin Shipyard shares surge after significant correction boosting investor confidence
Cochin Shipyard shares have surged over 20% in the past week, hitting the upper circuit for four consecutive sessions, following a nearly 50% drop from their peak in July. The stock reached Rs 1,579.25, buoyed by growing confidence in both commercial and defense sectors, significantly outperforming the benchmark Sensex.
defence and shipbuilding stocks rise as investor interest rebounds
Defence and shipbuilding stocks have surged up to 5% following a bullish call from JPMorgan, which highlighted attractive buying opportunities in the sector. Bharat Dynamics and BEL saw increases of 5% and over 2%, respectively, while HAL rose nearly 2%. The Nifty India Defence index has gained close to 5% in the past month, with notable double-digit increases for MTAR Tech (+18%), DCX India (+10%), and Paras Defence (+11%).
Cochin Shipyard signs MoU with Seatrium for jack-up rig design
Cochin Shipyard has signed a Memorandum of Understanding with Seatrium Letourneau USA, Inc. to design and supply critical equipment for jack-up rigs tailored for the Indian market, focusing on Mobile Offshore Drilling Units (MODUs). In its latest financial report, the company announced a 4% increase in net profit to Rs 189 crore for Q2 ended September 2024, with revenue rising 13% to Rs 1,143.2 crore compared to the previous year.
tocks in focus zomato alembic pharma and others on monday
Stocks in focus on Monday include Zomato, Alembic Pharma, RITES, Akzo Nobel, Rail Vikas Nigam, Cochin Shipyard, CESC, and HG Infra. Additionally, ACME Solar Holdings, Niva Bupa Health Insurance Company, Sagility India, and Jainex Aamcol are set to release their quarterly earnings on November 25.
Cochin Shipyard poised for growth amid strong order book and market correction
Cochin Shipyard, a leading public sector defense player, is set for sustained growth with a strong order book of ₹22,000 crore and enhanced capabilities. The company boasts a robust balance sheet, zero debt, and expects 20-25% revenue growth in FY25, making it an attractive investment opportunity despite current valuations at 40 times estimated FY26 earnings.
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