Buy defence shipbuilders Mazagon Dock, GRSE, Cochin Shipyard for up to 45% upside. Prabhudas explains why

India’s defence shipbuilding sector is at the cusp of a multi-decade transformation, evolving from a fragmented, policy-driven space into a strategic manufacturing and defence pillar, Prabhudas Lilladher said in a note. Against this backdrop, the brokerage has picked Mazagon Dock Shipbuilders, Cochin Shipyard and Garden Reach Shipbuilders (GRSE) as stocks to buy, seeing up to 45% upside, even as the trio has corrected nearly 28% over the past six months. Here’s why. Transformational Journey