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Defence PSU Stocks Correct Sharply as Profit Booking Weighs on Sector
Defence shipbuilding stocks like Mazagon Dock, Cochin Shipyard, and GRSE have corrected up to 35% from highs amid profit booking and broader market volatility.
Shares of leading defence shipbuilding companies have corrected sharply from their 52 week highs, reflecting profit booking and broader market volatility. The correction to stretched valuations after a strong rally, sector-wide consolidation, and uncertainty triggered by global trade tensions, including India US tariff concerns. While long term defence spending visibility remains strong, near term volatility may persist as investors reassess earnings momentum and valuations.