IREDA, BEML, NHPC, IRFC, BEML were among major gainers in PSU segment while NTPC, NALCO, Rail Vikas Nigam closed the trading session in negative territory. Overall market sentiment was cautious despite NSE Nifty trading in the green for most of the trading session. Markets are looking for direction from the trends in the global markets. US markets have given mixed signals and US dollar has witnessed steep decline against Euro and other major currencies. Nasdaq has been highly volatile and markets are highly concerned about US-China tariff issues. TopNews Team has reviewed technical charts and levels for short term traders.

Technical Analysis and Fibonacci levels

IREDA

IREDA is showing near-term resistance at Rs 179.27 with key Fibonacci supports at Rs 176.54 and Rs 175.89. The stock has retraced from its highs and could consolidate between Rs 173.80 and Rs 179. Buyers may look for accumulation near Rs 175–176 for a bounce.

BEML

BEML remains volatile within a wide range, currently between Rs 3,125 and Rs 3,222. Fibonacci levels suggest interim support near Rs 3,173.65 and Rs 3,162.24. A decisive move above Rs 3,222 can open the door to Rs 3,300+, while dips near Rs 3,160 may attract value buying.

NHPC

NHPC has a narrow trading band, with Fibonacci retracements clustered between Rs 89 and Rs 90. Support is visible around Rs 89.06, and bulls will need to reclaim Rs 90.88 to regain momentum. The stock is currently in a sideways consolidation.

NALCO

NALCO continues to hover close to its short-term peak of Rs 164.40. Fibonacci levels point to intermediate support at Rs 161.34 and Rs 160.62. Watch for fresh upside momentum above Rs 164.40, while dips toward Rs 158–160 may provide long opportunities.

IRFC

IRFC shows tight consolidation between Rs 130.51 and Rs 133.50. The stock is respecting Fibonacci levels at Rs 132 and Rs 131.65. If the price holds above Rs 132, bullish momentum could build; otherwise, a dip to Rs 130.50 is likely.

Fibonacci Retracement Levels for PSU Stocks

PSU Stock in Focus: Cochin Shipyard

In a year already marked by volatility across Indian equities, Cochin Shipyard Limited (CSL) has emerged as a stock of interest among both technical traders and long-term investors. A combination of strategic partnerships, favorable technical indicators, and sectoral momentum has thrust this public-sector shipbuilding major back into the market’s spotlight. Domestic brokerages, including Anand Rathi and Antique Stock Broking, have issued upbeat assessments with calculated upside targets. Despite a slight decline in Q3 earnings, the company’s robust order book, bullish breakout patterns, and linkage to India’s defense growth narrative are energizing investor sentiment.

Technical Breakout Signals Bullish Momentum

On April 21, 2025, Anand Rathi identified a confirmed breakout in CSL’s chart, citing an “Inverse Head and Shoulders” formation—a classic technical setup implying potential upside. The firm projected a target of Rs 1,660, representing an 11% gain from the breakout level, with a defined stop loss at Rs 1,420 to manage downside risk. Notably, the breakout occurred on strong volumes, indicating institutional buying.

The stock touched an intraday high of Rs 1,566.25 before closing near Rs 1,491. Over the trailing 12 months, CSL has delivered a 36% return, far outpacing the BSE Sensex’s 6% increase in the same timeframe. While short-term moving averages signal a bullish phase, caution remains warranted due to low delivery volumes and a resistance zone around Rs 1,600.

Strategic MoU with Drydocks World Boosts Long-Term Vision

On April 11, 2025, CSL inked a significant Memorandum of Understanding (MoU) with Dubai-based Drydocks World, part of the DP World Group. The aim is to develop modern ship repair clusters in Kochi and Vadinar, aligning with India's Maritime India Vision 2030 and AmritKaal Vision 2047.

This partnership brings together local shipbuilding expertise and global maritime servicing know-how, potentially elevating India’s ship repair ecosystem to international benchmarks. The deal was well-received in the markets, with CSL shares climbing 4.1% following the announcement. Over time, this move could bolster CSL’s revenue streams and deepen its role in India's maritime and defense logistics infrastructure.

Mixed Financial Performance in Q3 FY25

In its December 2024 quarterly earnings report, Cochin Shipyard posted a 27.6% YoY drop in consolidated net profit to Rs 176.99 crore, though revenue from operations rose 8.6% YoY to Rs 1,147.64 crore. The divergence was largely attributed to margin pressures in the ship repair division, which has a lower EBITDA margin profile compared to new shipbuilding.

That said, the company’s guidance for Q4 FY25 points to a recovery in profitability, aided by key defense project deliveries including the ASW Corvette and NGMV programs. Profit after tax for Q4 is expected to rise 3.4% YoY to Rs 273.60 crore.

Dividend Policy and Valuation Snapshot

CSL declared a dividend of Rs 3.50 per share for the quarter ending December 2024, translating into a dividend yield of 0.67%. As of the latest filing, the Government of India remains the majority shareholder with a 67.91% stake.

On valuation, CSL trades at a P/E ratio of 47.74 and a P/B value of 4.56. While this positions the stock at a premium relative to sector peers, it also reflects high expectations tied to defense sector reforms and maritime export opportunities.

Return on Equity (ROE) is a healthy 17.21%, supported by modest but consistent top-line growth. The five-year compound annual growth rate (CAGR) for sales and operating profit stands at approximately 5%, reflecting gradual but stable expansion.

Analyst Sentiment: A Blend of Optimism and Valuation Caution

Anand Rathi remains upbeat, reaffirming its BUY recommendation with a near-term target of Rs 1,660. Earlier in September 2024, it had placed a long-term target of Rs 2,165, reinforcing its belief in the stock’s medium-term potential.

Meanwhile, Antique Stock Broking maintains a more cautious stance. It assigns a HOLD rating with a target price of Rs 1,627, valuing the stock at an FY27 forward P/E of 33x. This tempered optimism suggests that while growth prospects exist, the current valuation already factors in a fair degree of that optimism.