Despite the company’s careful response, investors have responded positively to the possibility of a massive cooperation with the Korean shipbuilding giant. | Photo Credit: Thulasi Kakkat
Cochin Shipyard Ltd (CSL) shares surged at 11:22am on Thursday at 5.47% on a 1,792.40 scale, responding to media coverage with a 10,000 crore project on a potential collaboration with HD Hyundai.
In a regulatory filing with the stock exchange on May 14, CSL revealed that it had not issued a statement regarding the partnership of rumors reported by the media on May 13. The company admits that it “assess the strategic potential with multiple entities at different stages,” but there are no significant events that require disclosure of the SEBI regulations this time.
ShipBuilder suggested that recent media reports are “based on information threads” rather than official company announcements.
The CSL statement refers to the Indian Government’s Maritime India Vision 2030 and Maritime Amrit Karl Vision 2047, noting that the central and state governments are working with stakeholders to work with these initiatives to promote shipbuilding and ship repair activities.
Despite the company’s careful response, investors have responded positively to the possibility of a massive cooperation with the Korean shipbuilding giant. The shares won £93.00 while trading on the National Stock Exchange.
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Released on May 15, 2025
