Mazagon Dock Shipbuilders, GRSE and Shipping Corporation Of India Share Price Rise as Govt Plans ₹65,000 Crore Boost for Shipping Sector

Market Performance

Shipping stocks saw a sharp upward trend on August 21, following reports that the central government is set to approve schemes worth nearly ₹65,000 crore to strengthen India’s maritime sector.

• Mazagon Dock Shipbuilders share price jumped 2.5% to an intraday high of ₹2,841.40.
• Garden Reach Shipbuilders & Engineers (GRSE) share price surged over 3% to ₹2,643.50.
• Shipping Corporation Of India (SCI) share price gained more than 2% to reach ₹219.

Main News

According to reports, the Finance Ministry’s Expenditure Finance Committee (EFC) has cleared the proposals, which are now awaiting Cabinet approval. The schemes are expected to be rolled out in the next 20–25 days.

The allocation under these schemes includes:

• ₹20,000 crore for the Shipbuilding Financial Assistance Policy.
• ₹25,000 crore for the Maritime Development Fund (MDF).
• The remaining funds to support shipbuilding clusters across the country.

This development is in line with Finance Minister Nirmala Sitharaman’s Union Budget announcement, which emphasized the establishment of the MDF to boost India’s maritime sector.

Company Details

Mazagon Dock Shipbuilders

• Share Price Movement: Rose 2.5% to ₹2,841.40.
• 6-Month Performance: Up by nearly 32%.
• Valuation: P/E ratio above 55.

Garden Reach Shipbuilders & Engineers (GRSE)

• Share Price Movement: Gained 3% to ₹2,643.50.
• 6-Month Performance: Almost doubled in value.
• Valuation: P/E ratio above 52.

Shipping Corporation Of India (SCI)

• Share Price Movement: Increased over 2% to ₹219.
• 6-Month Performance: Up by around 34%.
• Valuation: P/E ratio around 11.5.

Summary

The announcement of a ₹65,000 crore support package for the shipping industry has lifted market sentiment, driving gains in Mazagon Dock Shipbuilders, GRSE, and Shipping Corporation Of India share prices. With significant allocations planned for shipbuilding, financing, and maritime infrastructure, the sector is expected to witness stronger growth momentum once Cabinet approval is granted.