Multibaggers: 3 shipbuilding stocks including Cochin Shipyard gained between 200% and 725% in a year

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Also Read: ITC Q4 results review: Should you buy, sell or hold the FMCG major? Here's what 5 top brokerages sayThe government aims to boost India's defence exports to US$5 billion by 2024–25, underscoring the sector's increasing significance and potential.Mazagon Dock Shipbuilders, Garden Reach Shipbuilders & Engineers, and Cochin Shipyard have all experienced significant jumps in their share prices this week, with returns reaching as high as nearly 34%.Cochin Shipyard shares have emerged as top performers among its peers, surging by 34% in the last four sessions alone. This momentum has propelled the shares to a remarkable 722% gain over the past year and an impressive 1058% increase in just two years.Earlier this month, the company bagged an order from a European client, for the design and construction of a hybrid service operation vessel (SOV) with an option for two more such vessels.

The vessel is equipped with hybrid battery systems to improve the energy efficiency and reduce the carbon footprints.The vessel is designed and built for the service, maintenance and operational needs of the offshore wind farm industry in the European market where sustainable energy solutions are in high demand. The project is expected to be completed by the end 2026, said Cochin Shipyards in its exchange filing.Also Read: Market Cap of NSE-listed companies surges to $5 trn from $4 trn in just 6 monthsThe order has been categorised as 'large', falling within the ₹500-1000 crore range; however, the precise value of the deal was not revealed in the filing.The fourth quarter and FY24 results of the company are expected to be released today.Mazagon Dock Shipbuilders also surged by 10.88% this week to ₹3,227 apiece and 35.67% in May,