Mumbai: Indices are trading with downside amid heavy volatility. Global cues have been dominating the market in recent days but many stocks are seeing a lot of upside. Meanwhile, shares of state-owned Cochin Shipyard rose eight percent as soon as the market opened. Traders are showing great interest in this stock. This company works to build ships for the Indian Navy and allied organizations. Over the last three decades, the company has emerged as a leader in the shipbuilding and repair sector in the country. The company is capable of repairing even the largest of ships.
This stock is showing a lot of momentum. It has climbed 25 per cent in the last one month. With this, the stock has touched Rs 483 on NSE, which is its 52-week high. Interestingly, along with strong price action, it is showing huge volumes indicating heavy institutional buying. All technical parameters are indicating bullish momentum in this stock. Its RSI (79.43) is in Super Bullish territory and OBV is also at peak. This is indicating active participation in this stock. Recently, the company has registered double digit growth in revenue and profitability. The fundamentals of the company are very strong and technical parameters are showing bullish signs. In such a situation, this stock is expected to go up significantly in the medium term. You can add this share to your watchlist to keep an eye on the future.
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