Budget 2025: Mazagon Dock, Cochin Shipyard, Garden Reach Shares Decline

Shares of Mazagon Dock Shipbuilders Ltd., Cochin Shipyard Ltd., Garden Reach Shipbuilders & Engineers Ltd. and other shipbuilding companies advanced momentarily before declining on Saturday. The development came as the government announced a Rs 25,000-crore Maritime Development Fund to be set up during Union Budget 2025–26.

The finance minister said the shipbuilding financial assistance policy would be revamped. Large ships above a specific size would be included in the infrastructure harmonised master list. Shipbuilding clusters would also be facilitated to increase the range and capacity of the ships.

However, the budget seems to have failed to meet the sector's expectations of other initiatives to give it a boost, leading to a dip in stocks of shipbuilding players.

Cochin Shipyard posted the highest decline of 4% to Rs 1,471 as of 11:59 a.m. The company has given 65.30% returns in the last 12 months.

Shares of Mazagon Dock followed suit, declining 5.23% to trade at Rs 2,367 per equity share, with the company rising 121.40% in the last 12 months.

Here's how the other companies in this space are trading, as of 11:59 a.m.:

• Mazagon Dock: Stock is trading 5.23% lower at Rs 2,367.

• Cochin Shipyard: Stock is trading 4% lower at Rs 1,471.

• Garden Reach: Stock is trading 0.94% lower

The finance minister also announced greenfield airports for Bihar. Modified Udaan scheme will be launched to enhance regional connectivity. The Udaan scheme will add 120 new destinations, and envisages carrying 4 crore additional passengers over the next 10 years.