Smooth sailing for shipbuilders in choppy markets; up to 27% upside likely

Mazagon Dock Shipbuilders, Garden Reach Shipbuilders & Engineers, and Cochin Shipyard have surged 129 per cent, 121 per cent, and 49 per cent each so far this year

Shares of shipbuilding companies have been hogging the limelight for the past few sessions as they smartly outperformed the benchmark indices. Despite the Indian equities going through a rough patch, largely due to interest rate hikes by the US Federal Reserve, strength in the US Dollar, and the Russia-Ukraine conflict, the shipbuilding stocks have roared with whopping gains. 

So far this calendar year, Mazagon Dock Shipbuilders, Garden Reach Shipbuilders & Engineers, and Cochin Shipyard have surged 129 per cent, 121 per cent, and 49 per cent, respectively, compared to a -1 per cent decline each in the BSE Sensex, and