Four major shipping and maritime stocks—GRSE, MAZDOCK, COCHINSHIP, and SCI—jumped at the stock exchange as the mounting promise of investments in the sector maximised the momentum the stock gained from the morning market rally.
On Wednesday, benchmark index Sensex settled 487 points higher while the NSE Nifty gained 167 points at market close on the positive sentiment surrounding the India-EU free trade agreement.
Maritime operator Shipping Corporation of India (SCI) gained 4.39 per cent to close at Rs 220.26 apiece on the NSE. However, the more impressive rallies were those of the shipbuilders.
Leading the rally with a whopping 7.3 per cent intraday gain was the Mazagon Dock Shipbuilders (MAZDOCK), which closed at Rs 2,505.60 per share. Kerala-based Cochin Shipyard (COCHINSHIP) soared by 6.55 per cent to settle at Rs 1,622.90 apiece. Another major maritime player, Garden Reach Shipbuilders & Engineers (GRSE), saw its stock spike 5.49 per cent to close at Rs 2,518.70 per share on the NSE.
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Last Saturday, at Thiruvananthapuram, Union Shipping Minister Sarbananda Sonowal stressed how India's maritime sector is touted to see investments of more than Rs 80 lakh crore in the coming years.
In 2025 alone, the maritime sector attracted more than Rs 12 lakh crore in investments, Sonowal said as he addressed the inaugural ceremony of Vizhinjam International Seaport's second phase of development in Thiruvananthapuram.
