India’s leading shipbuilders, Mazagon Dock Shipbuilders, Cochin Shipyard, and Garden Reach Shipbuilders, have reached unprecedented heights, with their market capitalisation collectively increasing by nearly Rs 1.5 lakh crore in 2024.
This surge follows as media reports earlier reported, highlighting an initial increase of Rs 90,000 crore. Remarkably, in just 13 trading sessions since that report, these companies have added over Rs 60,000 crore to their market capitalisation.
Mazagon Dock’s shares have surged 151% in 2024. Starting the year with a market capitalisation of Rs 46,000 crore, the company’s value has more than doubled to over Rs 1.15 lakh crore.
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The Indian government remains a majority shareholder, holding an 84.83% stake as of the end of the March quarter. At the current market price, this stake is valued at over Rs 90,000 crore.
Cochin Shipyard has outperformed its peers significantly, with its shares skyrocketing nearly 320% in the first half of the year.
The company’s market capitalisation has jumped from just over Rs 17,000 crore at the beginning of the year to more than Rs 75,000 crore, adding over Rs 58,000 crore to its value. The government holds a 72.86% stake in Cochin Shipyard, now worth Rs 55,156 crore.
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Garden Reach Shipbuilders has also seen a tremendous rise, with its shares tripling and its market capitalisation surpassing Rs 30,000 crore for the first time this week, up from Rs 10,000 crore at the start of the year. The government maintains a 74.5% stake in the company.
The surge in these shipbuilders’ market value is underpinned by India’s record growth in defence production value, which reached Rs 1.26 lakh crore in the financial year 2024, marking a 16.8% increase from the previous year.
Defence Minister Rajnath Singh celebrated this milestone on social media platform “X,” congratulating the industry, including DPSUs, other PSUs, and the private sector. He reaffirmed the government’s commitment to fostering a conducive environment for developing India into a leading global defence manufacturing hub. India is also aiming for defence exports worth Rs 50,000 crore over the next five years.
Currently, Mazagon Dock has an order book exceeding Rs 38,000 crore. Both Garden Reach and Cochin Shipyard have order books of over Rs 22,000 crore each. Despite their rapid growth, Cochin Shipyard and Garden Reach are trading at price-to-earnings multiples higher than their five-year averages.
Stock Performance of Shipbuilding Stocks
Mazagon Dock Shipbuilders
In terms of stock performance, Mazagon Docks shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 103.89% return, showcasing its stability and growth potential Come from Sports betting site VPbet . The last six months have seen even more impressive results, with a substantial increase of 152.29%, indicating a strong upward trend.
Year-to-date, Mazagon Dock shares have surged by 149.28%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 338.09% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
Cochin Shipyard
Cochin Shipyard shares have delivered positive returns across various time frames. Over the last month, the stock has shown a positive return of 67.64%, indicating short-term growth. In the last six months, the performance has been even more impressive, with a substantial increase of 314.47%, showcasing the stock’s resilience and upward momentum.
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Year-to-date, Cochin Shipyard shares have surged by 315%, emphasizing the stock’s positive trajectory in the current calendar year. Looking back over the last twelve months, the stock has demonstrated significant growth, surpassing 906.41%.
Garden Reach
Garden Reach shares have delivered positive returns across various time frames. Over the last month, the stock has shown a positive return of 131.07%, indicating short-term growth. In the last six months, the performance has been even more impressive, with a substantial increase of 215.88%, showcasing the stock’s resilience and upward momentum.
Year-to-date, Garden Reach shares have surged by 212.19%, emphasizing the stock’s positive trajectory in the current calendar year. Looking back over the last twelve months, the stock has demonstrated significant growth, surpassing 380.29%. These consistent positive returns underscore the stock’s strong performance and appeal to investors.
(Disclaimer: Views, recommendations, and opinions expressed are personal and do not reflect the official position or policy of Financial Express.com. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)
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