Indian shipyards Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Limited (GRSEL), and Cochin Shipyard Limited (CSL) are set for substantial growth, driven by a significant pipeline of Indian Navy orders and diversification into commercial and export markets. The Navy's share in defence spending is approximately 21 per cent, ensuring robust order visibility for these domestic players.
With over 75 per cent indigenous content, the frigate is among the most self-reliant frontline warships built in India.
Defence Minister Rajnath Singh will commission Mahendragiri, the sixth Project 17A indigenous stealth frigate, into the Indian Navy's Eastern Fleet in Visakhapatnam on Saturday, marking another milestone in India's journey towards defence self-reliance and indigenous warship construction.
Tamil Nadu's new government, led by C Joseph Vijay, is committed to advancing the ~38,000 crore shipbuilding project with HD Hyundai in Thoothukudi, securing bipartisan support from the Opposition DMK, despite initial industry concerns about policy continuity after the change in leadership.
India's three major listed shipyards - Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Limited (GRSEL), and Cochin Shipyard Limited (CSL) - are poised for substantial growth, driven by a robust order pipeline from the Indian Navy and diversification into commercial and export markets.
The sixth Scorpene class submarine, constructed by Mazagon Dock Shipbuilders Limited for the Indian Navy, was launched in Mumbai.
The first project that is being negotiated is for the procurement of three Scorpene submarines, which will be jointly constructed by state-run Mazagon Dock Limited (MDL) and French defence major Naval Group.
Christened 'Vela', the submarine was launched on May 6, 2019, and has completed all major harbour and sea trials including weapon and sensor trials despite COVID-19-induced restrictions, the Navy said.
South Korea's HD Hyundai, one of the world's largest ship manufacturers, is planning to build a shipyard in Thoothukudi. The project may see an investment of around $2 billion, said a government source.
India is closely monitoring Sri Lanka's decision to offer foreign investors control of an airport near the China-controlled Hambantota port, as it could present a rare opening for Indian firms seeking strategic footholds in the Indian Ocean.
This is the first time that the two indigenously built warships have been launched concurrently.
INS Udaygiri and INS Himagiri marks the first occasion when two frontline surface combatants constructed at two different shipyards were commissioned simultaneously.
The Indian Navy has commissioned three new warships, INS Surat, INS Nilgiri, and INS Vaghsheer, marking a significant step in India's defense self-reliance and indigenous shipbuilding capabilities. These state-of-the-art vessels are designed and built entirely in India, showcasing the country's growing expertise in defense production. The commissioning of these warships strengthens India's position as a global leader in defense and augments its maritime strength.
In their talks, Modi and Merz are likely to deliberate on trade and investment ties as New Delhi is looking at deepening economic engagement with Europe against the backdrop of Washington's 50 percent tariff on Indian goods, people familiar with the matter said.
India has commissioned its new indigenously-built nuclear-powered ballistic missile submarine INS Aridaman into service, further strengthening the naval component of its nuclear triad. Defence Minister Rajnath Singh also highlighted the Indian Navy's role in securing maritime trade routes.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
The development marks a major milestone in Indian Navy's submarine programme as the vessel is expected to bolster India's maritime prowess
'There's an urgent requirement, particularly for the Indian Ocean region, as China's naval presence grows, and with Pakistan also acquiring more submarines.'
For the navy, which is making do with just 14 conventional submarines against a requirement of 24, the INS Khanderi delay extends a dangerous operational void.
The Defence Acquisition Council (DAC) has recently approved procurement proposals worth Rs 79,000 crore across three services and it has cleared AoN (Acceptance of Necessity) of Rs 3.3 trillion in financial year 2026 (FY26).
Defence stocks have been on a tear, with the Nifty India Defence index hitting all-time highs. Over the past week, the index jumped around 7 per cent, far outpacing the flat performance of the Nifty 50. Over the past month, its 12 per cent gain has trebled the benchmark's return.
INS Surat is the Indian Navy's first AI enabled warship.
It will undergo a number of tests by the Indian Navy before it gets commissioned in the defence fleet.
Vice President Jagdeep Dhankhar, whose wife Sudesh launched the warship, was the chief guest at the ceremony.
Built at the Mazagon Dock Shipbuilders Ltd in Mumbai, the ship's construction also marks the end of the Project 15A to build Kolkata-class guided missile destroyers.
Though this is part of the divestment drive, government's stake in these companies remains 100 per cent even after the buybacks
'The universe of PSU stocks is huge and diverse.' 'Investors should bet on specific sectors and stocks from the basket as most of them may continue to consolidate after years of outperformance.'
Investors seem to have fully savoured the Burger King India IPO, with the share sale getting subscribed a massive 156.65 times on the last day of the offer on Friday.
The submarines are being constructed at Mazagon Dock Shipbuilders Limited in Mumbai in collaboration with the Naval Group of France.
Domestic institutional investors (DIIs) have infused a record Rs 4.6 trillion into Indian equities over the course of Samvat 2080, marking the highest net annual investment in any Samvat to date. This robust domestic inflow has effectively counterbalanced the comparatively subdued investments from foreign portfolio investors (FPIs), who contributed a net Rs 90,956 crore within the same timeframe. Against this backdrop, the Nifty 50 and BSE Sensex indices are on track to achieve their best performance in three Samvat years, despite recent market corrections.
HAL, BEL and MDL feature on Sipri's list of the 100 largest arms producers in the world.
Equipped with some of the best sensors in the world, its weapons package include sufficient wire guided torpedoes and sub-surface to surface missiles to neutralise a large enemy fleet, the Navy said.
"There is a high-level committee which is inquiring into the Scorpene leak on our side," Admiral Lanba said.
'The Raksha Mantri's day at sea'/
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
The country's first indigenously designed and built warship Godavari will be decommissioned on Wednesday in Mumbai, thirty-two years after it was commissioned into the Indian Navy.
Under-construction warship 'Visakhapatnam' caught fire at 5.44 pm. The blaze erupted on the second deck of the ship.
The warship is packed with a plethora of sophisticated sensors, modern radar and weapons systems such as surface-to-surface missiles and surface-to-air missiles, according to the Indian Navy.
India on Thursday approved proposals for purchasing 26 Naval variant of Rafale jets from France and procuring three French-designed Scorpene class submarines, a day ahead of Prime Minister Narendra Modi's wide-ranging talks with French President Emmanuel Macron in Paris.
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
