Mixed price movements were observed in the shares of shipping companies on Saturday after Finance Minister Nirmala Sitharaman announced various revamps in the sector.
The Shipbuilding Financial Assistance Policy will be updated to lower costs, including reductions like Credit Notes for shipbreaking in Indian yards to support recycling.
Large-size ships will be included in the infrastructure list (HML). Ship-building clusters will be created to enhance ship range and size, backed with better infrastructure, skill development, and technology to benefit the industry.
A Maritime Development Fund with a massive amount of Rs 25,000 crore will be established to support long-term financing in the maritime industry. The government will contribute a maximum of 49 percent to this fund; the rest will be contributed by ports and private investments.
This move is expected to benefit stocks like Mazagon Dock Shipbuilders Ltd, Shipping Corporation of India (SCI), Cochin Shipyard Ltd, and GE Shipping, among others.
1. Mazagon Dock Shipbuilders Ltd.
Mazagon Dock Shipbuilders Limited (MDL), an eminent public sector undertaking under the Ministry of Defense. It is integral to the fabrication of warships and submarines.
2. Shipping Corporation of India
The Shipping Corporation of India operates in three major industries: Bulk Carrier & Tankers, Liner & Passenger Services, and Technical & Offshore. Being the country’s premier shipping line, it has a presence in almost all sectors of the shipping industry. The company renders its services in domestic as well as international markets, and contributes significantly to various sectors.
Also read….
3. Cochin Shipyard Ltd
Cochin Shipyard Limited (CSL) is an advanced shipbuilding and repair company engaged in constructing vessels, refits, repairs, and life extension services. It has built and repaired large ships for global clients, exporting 45 vessels to various locations. The company excels in building a wide variety of vessels-from bulk carriers to technologically advanced ships like Platform Supply Vessels.
4. Garden Reach Shipbuilders & Engineers Ltd
Garden Reach Shipbuilders & Engineers Ltd is a leading Indian shipbuilding company under the Ministry of Defence. The company has built nearly 100 warships, including projects for the Indian Navy and the Coast Guard. It has entered a new area with the export of warships from India in keeping with the nation’s policy to earn foreign exchange through the export of defense products.
Written by Shwetha Sairam
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
