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Shares of Mazagon Dock fell 4.2% to Rs 3,377.40 on the BSE, while Cochin Shipyard slipped 3.7% to Rs 1,960.05. HAL declined by up to 3% to Rs 4,972.10, and GRSE dropped 4.4% to Rs 2,372.20. This pullback comes after a strong rally last week, during which all four stocks recorded double-digit gains with Cochin Shipyard and GRSE jumping over 40% between May 9 and May 17.
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India, of course, we hope they get a trade deal with the US, whatever that means, but India is less vulnerable to pressure on the tariff front than are some of these other markets. And I agree with Rajat in terms of the domestic drivers to the economy looks pretty good.
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Donald Trump plans to call Vladimir Putin and Volodymyr Zelenskyy for a ceasefire in Ukraine. He aims to use his relationship with Putin to end the war. Critics fear Trump's approach may favor Russia. Trump believes financial incentives could help. Zelenskyy met with US officials before the calls. Ukraine faces increased drone attacks. Prisoner exchanges are expected soon.
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