SCI, Mazagon Dock, Global Offshore Shares Gain On Proposals Of ₹70,000 Crore Shipbuilding Support

Shipbuilding stocks edged higher on Wednesday as investors pinned hopes on the Union Cabinet, which is expected to take up nearly ₹70,000 crore worth of proposals to boost the sector.

Mazagon Dock Shipbuilders rose 0.5%, Garden Reach Shipbuilders & Engineers gained 0.7%, and Shipping Corporation of India climbed 1.8%, while Global Offshore (Garware) surged 3%. 

Government Schemes

The proposals under discussion include a ₹20,000 crore shipbuilding fund, a ₹25,000 crore Maritime Development Fund with government participation at 49%, and a ₹25,000 crore financial assistance program for shipbuilding, according to a news report.

These are aimed at providing incentives, long-term finance and interest subsidies to support domestic shipbuilding, ship-breaking and port-linked infrastructure

Industry Expansion

The government has recently stepped up efforts to boost India’s presence in global shipping, granting infrastructure status to large ships and announcing plans to develop 10 world-class shipyards by 2030. 

Shipping Minister Shantanu Thakur said earlier this month that India is targeting a 5% share of global shipbuilding by 2030, backed by automation, digital twin technology and green shipbuilding.

New Partnerships And Investments

Cochin Shipyard this week signed an MoU with South Korea’s HD Korea Shipbuilding & Offshore Engineering to jointly build large vessels, including Suezmax tankers and container ships, at its Kochi dry dock. 

It is also considering a ₹15,000 crore greenfield shipyard in Tamil Nadu that could create 10,000 jobs.

Separately, Mazagon Dock Shipbuilders has signed an MoU with Guidance Tamil Nadu to explore a greenfield shipyard on the east coast, while Swan Defence & Heavy Industries committed ₹4,250 crore to expand its Pipavav shipyard in Gujarat.

What Is The Retail Mood?

On Stocktwits, retail sentiment for Mazagon Dock was ‘neutral’ with ‘normal’ message volume, while Garden Reach Shipbuilders and Shipping Corporation of India both saw ‘bullish’ sentiment amid ‘normal’ message volume.

So far in 2025, Mazagon Dock shares are up 31.6%, Garden Reach has surged 63.4%, while Shipping Corporation of India has gained 7.3%.

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