India, April 15 -- India's defence shipbuilding sector is witnessing a structural upswing, driven by over Rs2.3 trillion of projects in the pipeline, including destroyers, frigates, submarines and support vessels. In FY26, naval fleet procurement spending is expected to reach around Rs24,400 crore, with more than 60 vessels under construction and roughly 70-80 in the planning stage, underscoring the sector's multi year growth runway.

With a market capitalisation of Rs 1,00,623.14 crore, on Monday, the shares of Mazagon Dock Shipbuilders Ltd closed at Rs 2,494.50 per share, an increased around 1.02 percent as compared to the previous closing price of Rs 2,469.355 apiece.

Brokerage Recommendation ICICI Direct has maintained a positive out...