<ul>
<li>PSU stocks are once again asserting their dominance on Dalal Street, with the majority of them resuming their winning streak in recent sessions.</li>
<li>Fueling the recent surge in PSU counters are defence stocks, especially those involved in shipbuilding.</li>
<li>"The Indian defence shipbuilding sector remains promising, buoyed by the ambitious acquisition plans of the Indian Navy and Indian Coast Guard," said an industry expert.</li>
</ul>
<p><strong>PSU stocks are surging, driven by robust performance in the defence shipbuilding sector. Discover the latest trends and insights in our detailed analysis.</strong></p>
<h2><strong>Cochin Shipyard: Up over 700% in a year</strong></h2>
<p>Cochin Shipyard shares have emerged as top performers among its peers, surging by 34% in the last four sessions alone. This momentum has propelled the shares to a remarkable 722% gain over the past year and an impressive 1058% increase in just two years.</p>
<h3><strong>Recent Order Wins and Future Prospects</strong></h3>
<p>Earlier this month, the company bagged an order from a European client for the design and construction of a hybrid service operation vessel (SOV) with an option for two more such vessels. The vessel is equipped with hybrid battery systems to improve energy efficiency and reduce carbon footprints. The project is expected to be completed by the end of 2026, according to Cochin Shipyard's exchange filing.</p>
<h2><strong>Mazagon Dock Shipbuilders: Gains 321% in a year</strong></h2>
<p>Mazagon Dock Shipbuilders also surged by 10.88% this week to ₹3,227 apiece and 35.67% in May, translating to a remarkable 321% gain over the last year. Over the past three years, the company's shares have surged by 1427%. The shares are now trading 2125% above their issue price of ₹145 per share in October 2020.</p>
<h3><strong>Strong Order Book and Revenue Visibility</strong></h3>
<p>As of the end of the December quarter, the company boasts an impressive order book totaling ₹38,389 crore, providing strong revenue visibility, according to the company's Q3 investor presentation. Its Q4 and FY24 results are expected to be released on May 29.</p>
<h2><strong>Garden Reach Shipbuilders & Engineers: Rallies over 200% in a year</strong></h2>
<p>During the previous trading session, Garden Reach Shipbuilders & Engineers witnessed a staggering 20% surge in its shares following the company's exceptional performance in the March quarter and fiscal year (FY24). In Q4FY24, the company's net profit more than doubled, soaring by 101.81% year-on-year (YoY) to ₹111.60 crore, marking its highest ever.</p>
<h3><strong>Exceptional Financial Performance</strong></h3>
<p>Additionally, its sales experienced a remarkable increase of 68.96% YoY, reaching ₹1,015.73 crore in the quarter under review, compared to ₹601.17 crore in the same period last year. For FY24, the profit after tax (PAT) stood at ₹357 crore, reflecting a notable 57% growth from ₹228 crore recorded in FY23.</p>
<h3><strong>Conclusion</strong></h3>
<p>The recent performance of PSU stocks, particularly in the defence shipbuilding sector, underscores their growing significance in the market. With robust order books and promising financial results, companies like Cochin Shipyard, Mazagon Dock Shipbuilders, and Garden Reach Shipbuilders & Engineers are poised for continued growth. Investors should keep a close watch on these stocks as they continue to deliver impressive returns.</p>
Don't forget to enable notifications for our
Twitter account and
Telegram channel to stay informed about the latest cryptocurrency news.
