- Defence and shipping stocks traded higher amid US, Israel, and Iran conflict on March 6
- Mazagon Dock shares rose 8.48% to Rs 2,552 following a major defence contract announcement
- Garden Reach Shipbuilders gained 5.39% to Rs 2,538, Cochin Shipyard rose 4.84% to Rs 1,517
Defence and shipping stocks largely traded higher in early trade on March 6, with broad-based gains visible across key counters, like Mazagon Dock, Garden Reach Shipbuilders, and Cochin Shipyard, amid the ongoing war between US, Israel and Iran.
Mazagon Dock was up 8.48% at Rs 2,552, Garden Reach Shipbuilders rose 5.39% at Rs 2,538, and Cochin Shipyard jumped 4.84% to Rs 1,517 as of 9:45 am.
Shares of Mazagon Dock Shipbuilders also rose after the company announced that it has concluded negotiations with the Government of India on a major defence contract worth ₹99,000 crore. The proposal now awaits clearance from the relevant approving authority.
Nifty IND Defence is up over 2.3% on the positive sentiment.
The ongoing conflict involving Iran and the US‑Israel alliance has renewed optimism around improved investor sentiment and the potential for increased export orders for defence manufacturers.
This is a developing story.
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