Shares of three shipbuilding companies rose by 5% to 13.77% at 14:40 IST on BSE on reports the government is considering a financial assistance scheme to revive the debt-laden and struggling shipbuilding industry.
ABG Shipyard (up 13.77%), Bharati Shipyard (up 9.90%) and Pipavav Defence and Offshore Engineering Company (up 5%), edged higher.
The S&P BSE Sensex was down 175.44 points, or 0.64% at 27,089.88.
According to reports, the government is mulling various options, which include lower bank interest rates, infrastructure status to shipyards, a separate fund and also special subsidy to shipbuilders who source raw material and parts locally.
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