Cochin Shipyard shares inch up. But can the rally hold?

Cochin Shipyard shares were sailing slightly higher on Wednesday, up 1.2 per cent to Rs 1,475 on the BSE. Nothing dramatic—but enough to turn heads, especially with the company's March quarter results around the corner (May 21). The stock has quietly climbed over 7 per cent in the last month, riding the broader surge in defence and PSU names. And investors are hoping that upcoming earnings will offer more firepower. What Cochin Shipyard does Cochin Shipyard is no small player. This defence PSU is India's largest shipbuilder and has made a name for itself with high-profile projects, including the country's first indigenous aircraft carrier—INS Vikrant. Beyond warships, Cochin Shipyard also repairs ships, which is a lucrative, margin-rich segment it's looking to expand. The company's client base includes the Indian Navy, Coast Guard, an