Cochin Shipyard, Mazagon Dock, Garden Reach Shipbuilders rally up to 10%

Shares of Garden Reach Shipbuilders & Engineers (GRSE) surged 10 per cent to Rs 903.70 on back of two-fold jumps in average trading volumes today

Shares of ship building & allied services companies including Cochin Shipyard, Mazagon Dock Shipbuilders and Garden Reach Shipbuilders & Engineers rallied up to 10 per cent in Wednesday’s intra-day trade amid expectation of strong earnings and healthy order book position. In the past three trading days, these stocks have surged in the range of 16 per cent to 20 per cent.

Among the individual stocks, Cochin Shipyard (CSL) hit a record high of Rs 1,046.70, and surged 6 per cent on the BSE in intra-day trade today. While in the past three days, it has zoomed 20 per cent.

Analysts