Shipbuilding stocks price today
Shares of state-owned shipbuilding companies were in focus and rallied up to 9 per cent on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise weak market. In comparison, the BSE Sensex was down 0.43 per cent at 79,673 at 09:54 AM.
The share price of Mazagon Dock Shipbuilders soared 9 per cent to ₹2,559 on the back of over three-fold jump in average trading volumes. A combined nearly 6.3 million shares changed hands on the NSE and BSE. In the past two trading days, the stock has surged 18 per cent. It had hit a 52-week low of ₹2,130 on March 2, 2026. The stock hit a 52-week high of ₹3,778 on May 29, 2025.
The stock price of Garden Reach Shipbuilders & Engineers surged 6 per cent to ₹2,548 and Cochin Shipyard was up 5 per cent at ₹1,523.90 in intra-day trade. In the past two trading days, these stocks have soared up to 10 per cent.
Why Mazagon Dock soared 18 per cent in 2 days?
Mazagon Dock Shipbuilders (MDL) has officially confirmed that CNC (Contract Negotiation Committee) negotiations for P-75 (India) project between the company and the government have been completed.
The expected contract size is ₹99,000 crore for six stealth conventional submarines, equipped with AIP (Air-Independent Propulsion) systems. With this completion of negotiations with government, the proposal is now awaiting approval from competent government authorities. MDL will manufacture these submarines in partnership with German company Thyssenkrupp Marine Systems (TKMS).
This contract, once finalized, would be the largest contract for MDL and would significantly increase the company’s order-book (OB), which has declined over the past 5-6 years (order book (OB) stood at ₹23,758 crore as of December 2025 as against OB of ₹49,700 crore as of FY21 end), ICICI Securities said in a note.
The decline in order backlog has been the key concern for MDL as this has led to moderation in revenue growth in the last few quarters. The brokerage firm believes that, revenue growth will pick-up considerably from FY28e onwards, once the execution begins.
Antique turns positive on Cochin Shipyard
Brokerage firm Antique Stock Broking continues to maintain a positive outlook on the naval shipbuilding sector and has upgraded its rating on Cochin Shipyard to ‘Hold’ from ‘Sell’ citing that the Indian defence shipbuilding industry is poised for significant order inflows, driven by the Indian Navy and Indian Coast Guard’s ambitious fleet expansion plans, each targeting around 200 ships.
