Phillip Capital: 3 Defense Stocks Poised for Up to 44% Returns Amid Sector Boom

• Phillip Capital recommends a 'Buy' rating for Mazagon Dock, Cochin Shipyard, and Garden Reach Shipbuilders.
• Cochin Shipyard offers the highest potential upside of 44%, with Mazagon Dock at 36% and Garden Reach at 26%.
• India's defense shipbuilding sector is undergoing a 'multi-decade transformation' with significant government support.
• India aims to be a top five global shipbuilder by 2047, backed by a ₹70,000 crore maritime stimulus.
• Robust order books and a ₹2.3 lakh crore naval modernization pipeline ensure multi-year revenue visibility for these firms.

Why It Matters: Phillip Capital sees up to 44% returns in defense stocks due to India's shipbuilding transformation.