Defence Stocks Alert: Phillip Capital Sees Up to 44% Return in 3 Shipbuilders

• Phillip Capital initiated 'Buy' coverage on Mazagon Dock Shipbuilders Ltd., Cochin Shipyard Ltd., and Garden Reach Shipbuilders Ltd. (GRSE).
• Brokerage projects up to 44% return: Mazagon Dock (36% to ₹3,200), GRSE (26% to ₹2,800), Cochin Shipyard (44% to ₹2,175).
• India's defence shipbuilding sector is undergoing a multi-decade transformation, aiming for top-5 global rank by 2047.
• Strong growth drivers include ₹70,000 crore maritime stimulus, ₹25,000 crore defence exports, and ₹2.3 lakh crore naval modernization pipeline.
• Risks include order delays, slow capex, long project gestation, and supply chain limitations.

Why It Matters: Phillip Capital recommends buying 3 defence shipbuilding stocks, projecting significant returns amid India's sector transformation.