Shares of Cochin Shipyard gain 6% as stock trades ex-split

The company had previously announced sub-division of its equity share from a face value of Rs 10 each to face value of Rs 5 each.

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Shares of Cochin Shipyard gained nearly 6 percent during early trades on January 10 as the stock turned ex-date for a stock split. At 9:20 am, the stock was trading at Rs 709.

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Shipbuilding company, Cochin Shipyard, will be trading ex-split with effect from today, January 10. The company had announced a sub-division of its equity share from a face value of Rs 10 each to a face value of Rs 5 each. On December 14, 2023, in a regulatory filing, the company informed the exchanges that January 10 had been decided as the date of record for determining the eligibility of shareholders for the sub-division/split of existing equity shares.

Also read: Cochin Shipyard: Strong order book to support higher earnings visibility 

Over the past year, shares of Cochin Shipyard have soared over 175 percent and were trading nearly 4 percent higher at close on January 9. In late December 2023, stocks of Cochin Shipyard had gained on signing a contract with the Ministry of Defence on December 19, for a value of Rs 488.25 crores. According to the filing, the work package includes repair and maintenance of the equipment and systems onboard the naval vessel. The order is expected to be completed by Q1FY2025.

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