The stock rose 6.9% to hit a high of ₹2,175 and witnessed heavy trading on the BSE, with around 8.67 lakh shares changing hands.
Other defence-related stocks also rallied. Stocks like Mazagon Dock Shipbuilders and Garden Reach Shipbuilders & Engineers (GRSE) gained 3% and 10%, respectively, during the session.
At its intraday high, Mazagon Dock’s market cap touched ₹1.43 lakh crore, making it more valuable than eight Nifty 50 constituents like IndusInd Bank, Hero MotoCorp, Hindalco, Shriram Finance, Cipla, Tata Consumer Products, Dr. Reddy’s Laboratories, and Apollo Hospitals.
Defence stocks extended their rally despite an overall muted market, lifting the Nifty India Defence index over 1% and marking its third straight session of gains.
Commenting on the defence rally, technical analyst Mitessh Thakkar said that while these stocks have had a strong run, new investors should wait for a pullback before entering.
“We’ve seen Mazagon Dock rally from around ₹2,200 to ₹3,100 and then taper off from ₹3,750 to ₹3,450. A good entry point would be around ₹3,200–3,250, where support levels lie. GRSE is still very strong but trading significantly above its 10–20 day moving average. So if you already own these stocks, continue to hold, but for fresh entries, wait for a 5–7% correction,” Thakkar added.
Out of five analysts covering Cochin Shipyard, three have a ‘Buy’ rating, one recommends ‘Hold’, and the other one has a ‘Sell’ call.
Cochin Shipyard shares are currently trading 1.89% higher at ₹2,073.20, cooling off from the day’s high. The stock has climbed more than 30% so far in 2025.
