Early triggers coming into ABG Shipyard: Rajesh Jain

Rajesh Jain, Market Strategist in an interview with ET Now talks about ABG Shipyard.

Have you looked at the shipyard stocks, particularly ABG Shipyard, what is cooking here?

You have twin drivers out there. One is that the order books are looking up and there is a certain amount of activity going on in that space. For instance ICICI Bank has just sold a sizable stake in Western India Shipyard to one of the shipyard majors and with the shipping companies expected to look up on the back of better freight rates and higher throughputs, it is only logical that some of the early triggers are coming into the shipyard business.

Normally they should have been in a lag but for the first time we are witnessing huge order book situations out there.