Shipping stocks boom
Shipping Stocks: On Monday i.e. 22 September, the market opens Sensex I saw a decline of 475 points. Due to which the stock market investors lost more than Rs 1.50 lakh crore. But amidst this decline, the companies that make ghopling and shipbuilding Shares I saw tremendous boom. Some shares climbed to 8%. There were two big reasons for this. First, the government has given infrastructure status to large ships. And second, a new tender of ₹ 80,000 crore is coming from the Indian Navy. Both these reports raised new expectations among investors, and shares of many companies rose.
Now big ships will also be considered infrastructure
The government has now given the status of “infrastructure” i.e. infrastructure. It will be beneficial that now the companies that make ships will be able to borrow money easily from banks and investors. Just as roads, bridges or electricity projects get special status, similarly ships will also be counted in it. This will make the work of companies easier and strengthen the shipbuilding industry in the country. The government intends that by 2047 India should be included in the top 5 ship making countries in the world.
Navy will bring ₹ 80,000 crore tender
The second major reason for this fast is the upcoming tender of the Indian Navy. According to a report by Business Standard, the Navy is going to bring a tender of ₹ 80,000 crore to buy four big ‘landing platform doors’ i.e. heavy ships. This news caused excitement in the market. By 10:35 am on Monday, Cochin Shipyard shares were up 2.39%, the Majgaon Dock climbed 1.25% and the Garden Reach Shipbuilders (GRSE) was at 4.77%. Shipping Corporation of India shares rose up to 5.18%. Swan Defense shares directly reached the upper circuit of 5%.
GRSE made many important agreements
The shares of Garden Reach Shipbuilders (GRSE) also saw a tremendous rise. By 12 noon, its shares were trading at Rs 2,713.50, which is an increase of more than 4%. This boom in shares has come due to many important agreements made by GRSE recently. These agreements were reached in Bhavnagar, Gujarat, where Prime Minister Narendra Modi started the ‘prosperity from sea’. The institutions with which GRSE have partnered with Kandla and Kolkata Port Authority, Indian Port Rail and Ropway Corporation, Shipping Corporation of India and Modest Infrastructure. The aim of these agreements is that shipping and port sector should be carried forward in the country so that India can become self -sufficient in this region.
Shipping Corporation gets oil companies support
The Shipping Corporation of India has now partnered with the country’s big oil companies (BPCL, HPCL and IOCL). All these companies plan to buy new ships together, run them and maintain them. These ships will be used to carry out freight-export of oil, gas and petrochemicals as well as freight in coastal areas. This initiative is being considered an important step towards strengthening the country’s energy security and self -reliance in the shipping sector.
What is advice for investors?
Now that the shares of these companies are seeing a strong rise, the biggest question is whether ordinary investors should invest in them right now? Chokkalingam of Equinomics Research says that currently the shares of these companies have become very expensive, so new purchases should be avoided. But if there is a slight decline in them, then investment can be made on that occasion. At the same time, Bathini, the revolution of wealth securities, believes that these companies are related to cyclical or ups and downs. In such a situation, if someone wants to invest from a long -term perspective, then shares of these companies can be purchased. They believe that Mazagon Dock, Cochin Shipyard, GRSE CERESEre will do well.
Disclaimer: This article is only for information and should not be considered as an investment advice in any way. TV9 India suggests its readers and spectators to consult their financial advisors before taking any decision related to money.