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Shares of state-owned Cochin Shipyard surged 7.8% to Rs 2,490 on the BSE after reporting a 76.6% YoY increase in consolidated net profit to Rs 174.23 crore for the June 2024 quarter. Revenue from operations rose by 62% to Rs 771.47 crore, up from Rs 475.86 crore in the same period last year.

Promoters held 0.0 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 17.95 per cent and 17.82 per cent, respectively.

​And I think they are well on the way towards achieving what they have guided. Now, we need to get more insights in the conference call as to the order bookings, etc, because for many of the capital good and infrastructure companies, the first quarter has been muted in terms of order inflow. And they have guided for aggressive order inflow for this year. So, we need to see what they are saying on that.

The Relative Strength Index of the stock stood at 47.32 on Friday.

The Nifty has dropped nearly 4% from its peak of 25,078. Experts warn that railways, IT, metals, PSU stocks, and export-oriented sectors might be the most affected if deeper corrections occur. Contributing factors include high valuations, a potential US economic crisis, yen carry trade reversals, and geopolitical tensions.

The stock quoted a 52-week high price of Rs 1707.1 and a 52-week low of Rs 802.0.

As we have mentioned, the market will likely adjust to the fundamentals soon, and style and sector rotation will play a meaningful role in generating alpha. We believe that the margin of safety in mid and small-cap stocks has reduced compared to six to seven months ago. Due to some global selloff, we saw some nervousness yesterday.

Aggarwal, 38, will add $1.2 billion to his wealth if his SoftBank Group Corp.-backed Ola Electric lists Friday in Mumbai at the lowest end of the price band at 72 rupees ($0.86) a share, giving the entrepreneur a net worth of $2.3 billion, according to the Bloomberg Billionaires Index. Ola Electric did not immediately respond to requests for comment on Aggarwal’s net worth.