Mazagon Dock, Cochin Shipyard, GRSE shares in focus today; here's why

Shares of shipbulidng firms such as Mazagon Dock (MDL), Cochin Shipyard (CSL), Garden Reach Shipbuilders (GRSE) and Swan Defence and Heavy Industries Ltd are in focus today after the government on Saturday notified the operational guidelines for two major shipbuilding initiatives with Rs 44,700 crore outlay. These initiatives will boost India’s domestic shipbuilding capacity and improving global competitiveness. 

Mazagon Dock (MDL) shares closed 0.37% higher at Rs  2549.80 on Friday. Market cap of the firm stood at Rs 1.03 lakh crore.

Shares of Cochin Shipyard (CSL)ended 0.34% higher at Rs 1654.90. Market cap of the firm stood at Rs 43,446 crore.

Swan Defence and Heavy Industries stock ended 5% higher at Rs 1322.10 in the previous trading session. Market cap of the firm stood at Rs 7,316  crore.

Garden Reach Shipbuilders stock ended 1.84% higher at Rs 2499. Market cap of the firm stood at Rs 28,604 crore. 

The Shipbuilding Development Scheme provides for the development of greenfield shipbuilding clusters, expansion and modernisation of existing brownfield shipyards, and the establishment of an India Ship Technology Centre under the Indian Maritime University to support research, design, innovation and skills development.