SHIPBUILDING PROJECT
GRSE shares rise 2% after Q2 net profit climbs 12% YoY
GRSE shares rose on Thursday after the defence shipbuilder reported a 12% year-on-year increase in Q2 FY27 net profit to Rs 171.97 crore. Revenue grew 9% to Rs 1,827 crore, while EBITDA rose 13%. The company also highlighted key project milestones and infrastructure expansion during the quarter.
Indian Navy's INS Betwa to get diesel propulsion system in Rs 500-crore refit
The Ministry of Defence executed a contract worth Rs 498.58 crore for the refit and upgrade of INS Betwa. This project replaces the frigate's steam propulsion with a modern diesel-engine system and enhances its combat systems. The refit aims to improve operational effectiveness while promoting indigenous capabilities in naval repairs. More than 50 micro, small, and medium enterprises will be involved in the initiative.
Stocks in news: Cochin Shipyard, Kalyan Jewellers, MRF, Coal India, BHEL and Bajaj Finance
Indian markets are set to resume trading after the Diwali holiday, with investors tracking key stocks such as Cochin Shipyard, Kalyan Jewellers, MRF, Coal India, BHEL and Bajaj Finance amid Q2 earnings and corporate developments. Nifty faces immediate resistance at 25,150–25,200.
Tata Projects subsidiary CEO Shashank Shekhar Jha tenders resignation
Shashank Shekhar Jha resigned from his position as CEO of Artson Engineering to explore new career opportunities. He reflected on his four-year leadership as one of the most rewarding experiences of his career. Jha expressed gratitude to his team and assured a smooth transition during the notice period. Artson Engineering Ltd experienced a drop in share price following the announcement of his resignation.
Tata Steel Q2 Results: Profit rises 16% YoY to Rs 3,700 crore, revenue up 11%; Noel Tata to retire as director
Tata Group's Tata Steel has reported a 16.2% year-on-year increase in profit after tax for Q2FY27. Consolidated revenue from operations grew by 11.5% year-on-year, reaching over Rs 65,436 crore. The profit after tax for the quarter was around Rs 3,700 crore, compared to the previous year's amount. Additionally, Noel Naval Tata will retire from his position effective November 11, 2026.
India may lower shipbuilding subsidy localisation threshold to 20% to attract foreign investors
The government is considering lowering the minimum domestic-content threshold for shipbuilding incentives from 30% to 20%, with a full subsidy payout linked to 40% localisation. The proposed relaxation, conditional on firm investment milestones, could benefit South Korea's HD Hyundai, which plans a $4 billion greenfield shipyard in Tamil Nadu.
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West Bengal investment policy puts jobs first, offers up to 120% assistance to industries
West Bengal has launched a new investment promotion policy aimed at encouraging industrial growth and job creation. The policy includes substantial incentives for businesses, especially those focused on employing women and transgender workers. It offers streamlined processes for approvals and payments, enhancing efficiency for investors. Priority areas will receive higher assistance levels and a framework for regular review every three years.
GRSE shares jump 9% after signing Rs 32,000 crore Indian Navy contract for five next-generation corvettes
GRSE shares surged nearly 9% after securing a Rs 32,000-crore Indian Navy contract to build five Next Generation Corvettes. The nine-year project will strengthen indigenous defence manufacturing, enhance maritime capabilities and reinforce GRSE's warship-building position, adding significantly to its order book and long-term business prospects.
Hunting for Diwali winners? 8 brokerages name 58 stocks with big upside potential; Eternal, L&T among top picks
Eight brokerages have shortlisted 58 stocks for their Diwali 2026 portfolios across sectors such as banking, IT, defence, automobiles and hospitality. Eternal, L&T and Indian Hotels are the most popular picks, featuring in four brokerage portfolios each, while Kotak Mahindra Bank appears in three. ICICI Bank, Tech Mahindra, Tata Steel and Adani Ports are among the other recurring recommendations.
Why Indian Navy is spending Rs 53,000 crore to buy 8 corvettes? How It will help India to defend India's 7000 km coastline from Pakistan to Bangladesh
Indian Navy will spend Rs 53,866 crore to acquire eight next-generation corvettes part of a wider effort to strengthen coastal defence and maritime security. With stealth features, multi-role warfare capabilities and over 70% indigenous content, the warships will add to India's expanding naval fleet.
Defence Ministry inks Rs 53,886 crore deals for new indigenous warships
The Defence Ministry signed contracts worth ₹53,866.50 crore for constructing next-generation corvettes with public shipyards. Garden Reach Shipbuilders & Engineers Limited will build five corvettes while Goa Shipyard Limited will construct three. The ships are designed for multi-domain warfare, including anti-surface and anti-submarine operations. This project is expected to create significant employment opportunities in shipyards and ancillary industries over the next decade.
Govt inks Rs 53,866.50 crore contracts with GRSE & GSL for 8 Next Generation Corvettes for Indian Navy
The Ministry of Defence has signed contracts worth ₹53,866.50 crore with Garden Reach Shipbuilders & Engineers (GRSE) and Goa Shipyard (GSL) for the construction of eight Next Generation Corvettes for the Indian Navy. Under the deal, GRSE will build five warships and GSL the remaining three.
Rs 40,000-crore project for 8 next-gen corvettes cleared by Cabinet; GRSE, Goa Shipyard to build warships
The Cabinet Committee on Security (CCS), chaired by Prime Minister Narendra Modi, has approved a project worth over Rs 40,000 crore to build eight Next-Generation Corvettes for the Indian Navy. The warships will be constructed by Garden Reach Shipbuilders & Engineers (GRSE) and Goa Shipyard Limited (GSL), featuring an indigenous stealth design. The first vessel is targeted for delivery by 2030, strengthening India's maritime security and domestic defence manufacturing capabilities.
India, HD Hyundai advance plans for $4 billion shipyard in Tamil Nadu
Union Minister Sarbananda Sonowal engaged with HD Hyundai's Chairman in Seoul to discuss a significant shipyard project. The proposed USD 4 billion greenfield shipyard will be located in Thoothukudi, Tamil Nadu. A joint working group is tasked with overseeing the project development and establishing a joint venture structure. Once operational, the shipyard aims to enhance India's competitiveness in global maritime markets.
How Australia built world’s biggest battery-powered ferry
The electric ferry China Zorrilla has launched its operations between Buenos Aires and Uruguay, marking a significant milestone in eco-friendly maritime transport. This initiative showcases advancements in battery technology aimed at curbing environmental impact.
Sonowal to pitch India's shipbuilding opportunity to Korean industry
The visit of Union Minister Sarbananda Sonowal to South Korea spans four days, focusing on maritime collaboration. In his address in Busan, he brought attention to the significance of Indian professionals in the shipbuilding arena of Korea.
Sagarmala Finance Corp aims for Rs 60,205 cr disbursal by 2031
Sagarmala Finance Corporation Limited has announced a cumulative disbursement target of Rs 60,205 crore by 2031. The financing has reached Rs 11,563 crore, with Rs 5,107 crore disbursed so far. Union Shipping Minister Sarbananda Sonowal emphasized SMFCL's role in supporting port-led development and shipbuilding initiatives. The Maritime Investment Fund aims to strengthen long-term financing for maritime projects nationwide.
Indian Navy inducts multi-purpose INS Samarthak, a drone mothership and weapons testbed, the first major warship built by a private shipyard
Samarthak, the first multi-purpose vessel built by a private shipyard to be commissioned into the Indian Navy, has entered service with more than 75% indigenous content. Built by L&T, it will support weapons and sensor trials, maritime surveillance, unmanned systems, disaster relief and emergency response at sea.
In 1998, India planned 24 submarines by 2030, currently it has 16 and newest submarines are years away
India’s submarine fleet faces a growing replacement challenge, with 16 conventional diesel-electric boats in service and its target of 24 by 2030 delayed. Project 75I, indigenous Project 76, nuclear-powered attack submarines under Project 77 and a proposed Russian submarine lease are among the measures planned to strengthen undersea capabilities. However, lengthy procurement and construction timelines could prolong the gap as older submarines retire.
HDFC Defence Fund increase stake in HAL, Mazagon Dock, Bharat Electronics and 7 others in September
HDFC Defence Fund increased its holdings in 10 stocks in September, including Hindustan Aeronautics, Mazagon Dock Shipbuilders and Bharat Electronics, according to ACE MF data. The fund also raised exposure to Bharat Forge, Eicher Motors and Tata Motors. However, it underperformed its benchmark over the three-year period despite stronger shorter-term returns.
Shipping ministry launches 2 credit risk insurance products for ship building industry
These policies include the Shipbuilding Project Credit Risk Insurance Policy for export projects and the Business Credit Shield Policy for domestic projects. The central government will subsidize insurance premiums and support insurers for shipyard claims. This initiative aims to alleviate financial stress and ensure smooth operations for shipyards.
The Andaman Islands could be India's next big trade trump card
India is focusing on strengthening the Andaman and Nicobar Islands' strategic maritime role for regional trade. The upcoming Andaman Dialogue 2027 will emphasize maritime infrastructure and economic cooperation among countries in the Indo-Pacific region. Commerce Minister Piyush Goyal highlighted the islands as an economic bridge, particularly for trade and logistics efforts. Enhanced cooperation between regional ports and industries is also proposed to bolster maritime security.
Saudi Arabia expresses interest to invest in India’s port projects: Sarbananda Sonowal
In a recent dialogue, the Saudi Ports Authority expressed a strong desire to invest in India's maritime sector. Key discussions revolved around the Vadhavan and Galathea Bay port projects, underscoring potential financial support. Their cooperation would also encompass shipbuilding, seafarer training, and sustainable supply chain development. Additionally, India is partnering with Belgium on a green shipping initiative and improving connectivity through the Brahmaputra River with Bhutan.
Cochin Shipyard gets order to build 40 ships from US, Germany, Norway, other nations: Sarbananda Sonowal
Cochin Shipyard Limited has triumphantly secured more than 40 shipbuilding contracts from leading countries like the US, Germany, and Norway. Shipping Minister Sarbananda Sonowal emphasized the importance of cultivating a strong ecosystem for shipbuilding in India. Notably, Russian businesses showed interest in collaborating with local shipyards, and Belgium demonstrated a desire to join forces with India on shipbuilding ventures.
Kandla Port courts global hydrogen firms for green-fuel, shipping projects
The Kandla Forum 2026, hosted by Deendayal Port Authority, brought together over 200 professionals from the clean-energy sector, both globally and locally, to foster investments in green fuel and innovative technologies. The forum focused on enhancing Kandla's green-hydrogen infrastructure for maritime applications, showcasing cutting-edge solutions through a technology exhibition. This event signifies a crucial stride towards achieving India's green-energy objectives and minimizing carbon footprints.
‘Most jobs in Maryland in history’: Governor lauds Anduril’s $6.6 billion submarine project at Baltimore shipyard to create over 3000 direct jobs
Anduril is set to invest $3.7 billion in a new shipyard located in Maryland, aimed at enhancing job opportunities in the region. This facility will produce components specifically for Virginia-class submarines and will support established industrial networks. Operations are projected to begin within four years, potentially generating about 3,100 direct jobs and over 11,000 indirect jobs.
Trump highlights a big new defense project in Maryland, a blue state whose governor won't be there
Donald Trump plans to highlight Anduril’s $3.7 billion investment in a Baltimore-area facility that will make components for US nuclear-powered submarines, part of his push to showcase manufacturing investment ahead of the November 3 midterms. The project is expected to create 3,100 direct jobs, with the federal government committing $2.9 billion to purchase output from the facility.
Indian Navy to get 43,500-tonne ‘Surya’ ship as Rajnath Singh lays keel at HSL in Visakhapatnam
Defence Minister Rajnath Singh on Tuesday inaugurated major shipbuilding and maritime infrastructure projects at Hindustan Shipyard Limited in Visakhapatnam. He launched the Indian Navy’s first Fleet Support Ship, ‘Surya’, laid the keel for FSS-5 and inaugurated an upgraded slipway and 300-tonne Goliath crane capable of supporting construction of vessels up to 45,000 DWT.
SCI to help India achieve ambition of becoming top shipping nation: Sonowal
India's Union Minister Sarbananda Sonowal emphasized the importance of domestic shipbuilding at the Shipping Corporation of India's anniversary. The company is expected to see its Profit After Tax surpass Rs 2,000 crore this fiscal year. Sonowal called on SCI to play a key role in achieving the national goal of self-reliant shipbuilding by 2047.
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