Cochin Shipyard's Stock Sees Decline, Experts Give 'Buy' Call Amidst Potential for Growth

Cochin Shipyard, a leading shipbuilding company in India, has been making headlines in the stock market recently. On August 13, 2024, the company's stock saw a decline of -3.08%, closing at Rs 2265.05. However, despite this dip, experts at MarketsMOJO have given a 'Buy' call for the stock.

Cochin Shipyard is a largecap company in the shipbuilding industry, known for its quality and timely delivery of vessels. It has been a part of the Hidden Turnaround list on MarketsMOJO since November 2023, indicating its potential for growth and profitability.

In terms of performance, Cochin Shipyard's stock has been inline with the sector, but has seen a consecutive fall for the last two days, with a -5.73% decline in returns. The stock touched an intraday low of Rs 2240.75, a -3.57% decrease from the previous day's close.

While the stock's performance may seem concerning, it is important to note that Cochin Shipyard's moving averages are higher than the 100-day and 200-day averages, indicating a positive trend in the long run. However, it is currently lower than the 5-day, 20-day, and 50-day moving averages.

In comparison to the shipbuilding sector, Cochin Shipyard's stock has fallen by -3.41%. However, it is still performing better than the overall market, with a -3.37% decline compared to the Sensex's 0.04% performance in the last day. In the last month, the stock has seen a -20.59% decline, while the Sensex has seen a -1.05% decline.

Overall, Cochin Shipyard remains a strong player in the shipbuilding industry, with a positive outlook for the future. Investors can take advantage of the current dip in the stock's price and consider adding it to their portfolio.