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What is the story about?
Shares of India's shipbuilding companies, Garden Reach Shipbuilders Ltd. Mazagon Dock Shipbuilders Ltd. and Cochin Shipyard Ltd. surged up to 20% on Wednesday, April 1.
The three stocks are the top gainers on the Nifty India Defence Index on Wednesday.
Garden Reach announced that it has recorded the highest-ever annual turnover in its history for financial year 2026 at ₹6,400 crore, compared to ₹5,076 crore. This is a 26% increase compared to the previous financial year.
The company also stated that it commissioned five vessels during the year and also delivered a total of eight vessels to the Navy in the recently concluded financial year.
"It has also achieved significant progress in the construction of 12 export vessels for a German client, as well as a Dredger for a friendly foreign country," Garden Reach said in its filing.
The company has not disclosed any current order book status.
While Mazagon Dock and Cochin Shipyard have not disclosed their updates for the financial year, they too have seen a sharp jump in the share price after Garden Reach's update.
For Cochin Shipyard, a potential trigger for the surge could be the stock's inclusion in the Futures & Options (F&O) space from April 1, of which Mazagon Dock is already a part of.
As many as 40 lakh shares of Garden Reach have changed hands so far on Wednesday, significantly higher than the 20-day average of 3.3 lakh shares.
Close to 20 lakh shares of Mazagon Dock have changed hands so far compared to the 20-day average of 8.5 lakh at this time of the day.
Cochin Shipyard has also seen as many as 35 lakh shares change hands, significantly higher than the 20-day average of 3.6 lakh shares.
Shares of Garden Reach Shipbuilders are trading 18% higher on Wednesday at ₹2,325.6, while those of Mazagon Dock are up 11.6% to ₹2,304.9. Cochin Shipyard shares are also up 13.2% at ₹1,351.
The three stocks are the top gainers on the Nifty India Defence Index on Wednesday.
Garden Reach announced that it has recorded the highest-ever annual turnover in its history for financial year 2026 at ₹6,400 crore, compared to ₹5,076 crore. This is a 26% increase compared to the previous financial year.
The company also stated that it commissioned five vessels during the year and also delivered a total of eight vessels to the Navy in the recently concluded financial year.
"It has also achieved significant progress in the construction of 12 export vessels for a German client, as well as a Dredger for a friendly foreign country," Garden Reach said in its filing.
The company has not disclosed any current order book status.
While Mazagon Dock and Cochin Shipyard have not disclosed their updates for the financial year, they too have seen a sharp jump in the share price after Garden Reach's update.
For Cochin Shipyard, a potential trigger for the surge could be the stock's inclusion in the Futures & Options (F&O) space from April 1, of which Mazagon Dock is already a part of.
As many as 40 lakh shares of Garden Reach have changed hands so far on Wednesday, significantly higher than the 20-day average of 3.3 lakh shares.
Close to 20 lakh shares of Mazagon Dock have changed hands so far compared to the 20-day average of 8.5 lakh at this time of the day.
Cochin Shipyard has also seen as many as 35 lakh shares change hands, significantly higher than the 20-day average of 3.6 lakh shares.
Shares of Garden Reach Shipbuilders are trading 18% higher on Wednesday at ₹2,325.6, while those of Mazagon Dock are up 11.6% to ₹2,304.9. Cochin Shipyard shares are also up 13.2% at ₹1,351.
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