Major defence stocks stage a comeback; Cochin Shipyard surges by 10%

According to experts, interest in defence stocks likely went up as the correction eased valuations to an extent. The buoyant sentiment in the equity market also boosted buying in the sector

Defence stocks witnessed a turnaround on Friday after a steep fall in the past two months. Cochin Shipyard surged 10 per cent while Garden Reach Shipbuilders, Mazagon Dock Shipbuilders, and Paras Defence & Space Technologies gained 5 per cent or more.

According to experts, the interest in defence stocks likely went up as the correction eased the valuations to an extent. The buoyant sentiment in the equity market also boosted buying in the sector.

"It is a reaction to the Fed rate cut and investors speculating on potential promising opportunities. Some investors might have thought that the