Three defence stocks that can fetch up to 44% returns on 'multi-decade transformation': Phillip Capital

India's defence shipbuilding sector stands at the threshold of a multi-decade transformation and is evolving from a fragmented, policy-dependent industry, into a strategic manufacturing and defence pillar, Phillip Capital wrote in its note, adding that despite handling 95% of its trade through maritime routes, India has less than 1% share in global ship production.

Dec 19, 2025 - 07:00
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Three defence stocks that can fetch up to 44% returns on 'multi-decade transformation': Phillip Capital
India's defence shipbuilding sector stands at the threshold of a multi-decade transformation and is evolving from a fragmented, policy-dependent industry, into a strategic manufacturing and defence pillar, Phillip Capital wrote in its note, adding that despite handling 95% of its trade through maritime routes, India has less than 1% share in global ship production.

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