Shipping Stocks: In the recent days, among defence stocks, Shipping Stocks have also shown tremendous growth.
The stocks of companies such as SCI, Cochin Shipyard, and Garden Reach Shipbuilders are constantly being watched.
Today also, the shares of SCI i.e. Shipping Corporation of India Ltd have rallied 15% and the stock has touched its 52-week high of Rs 317. The stock opened at Rs 280.
And not just SCI, other shipping stocks are also on a good rise. Dredging Corporation of India Ltd had climbed 5 percent, while Cochin Shipyard had a gain of 4%.
Garden Reach Shipbuilders also jumped 5%.
Why Did The Shares Rise?
Big news is coming for the shipping industry. There is news that the shipping industry can get a big boost in the budget.
According to sources, in the budget, the government can extend the deadline of the shipbuilding scheme beyond 2026.
In this program it is possible to receive financial aid as much as 20% can be provided.
Apart from this, the announcement of the Maritime Development Fund is also possible in the budget.
Loans to the shipping sector can be made possible at cheaper rates from the Maritime Fund.
The Green Boat Scheme can also be announced in the budget. Under this, there is a plan to provide 1,000 green boats every year with a subsidy.
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