140% return in 1 year: Midcap PSU stock to be in focus in next session - Here's why

Shares of PUS Cochin Shipyard Ltd (CSL) will be in focus when the market opens on Monday as the company has entered into a memorandum of understanding (MoU) with Seatrium Letourneau USA, Inc. (SLET) for the design and critical equipment for jack-up rigs for the Indian market.

Meanwhile, the counter ended today's session at Rs 1298.50 on the BSE. The scrip has given a positive return of around 140 per cent in 1 year and 300 per cent in two years. 

The 52-week high of the stock is Rs 2,977.10 and the 52-week low is Rs 539. The market cap of the PSU is Rs 34,161 crore. 

The company said building on CSL's experience in ship construction and SLET's technical expertise and design capabilities, the partnership aims to capitalise on opportunities for mobile offshore drilling units designed to meet the needs of the Indian market.

This collaboration is in line with the government's efforts under the Make in India initiative, it added.

With PTI inputs